Egypt considers 100-year bonds

04 November 2010

Bonds could be valued at $500m

Egypt is considering offers from investment banks to issue 100-year bonds valued at as much as $500m, Bloomberg has reported, citing two people familiar with the proposal. No investment bank has yet been mandated to underwrite the bonds and the discussions between the country’s finance ministry and banks are at an early stage, the sources said. “Because the pricing is so low now, everyone is thinking about issuing long-term bonds,” Mohamed Abu Basha, an economist at Cairo-based investment bank EFG-Hermes Holding commented.

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