Returns on Egyptian gov’t bonds to remain “robust” -Credit Suisse
Returns on Egyptian gov’t bonds to dip but remain “robust” -Credit Suisse: Egyptian government bonds will pay lower returns to foreign investors in 2020 but will remain “robust,” Fadh Iqbal, head of Middle East research at Credit Suisse, told Bloomberg TV yesterday (watch, runtime: 4:07). “It’s still a very attract trade to be had. I don’t think that the returns are going to be as attractive as we saw previously but we still that there’s good value to be had,” he said.
Long-term issuances a sign of optimism: The recent trend towards longer term issuances “is testimony towards the increased confidence and the still attractive returns,” Iqbal said. Egypt last month held a three-tranche eurobond issuance of four-year, 12-year, and 40-year notes, a notable increase in maturity from previous FX-denominated offerings and local currency issuances.