Egypt to return to debt markets in November

18 September 2017

Cairo will also move ahead with $10bn eurobond programme next year

Egypt plans to return to international debt markets in November with a €1.5bn ($1.8bn) bond issuance.

Cairo is also reportedly planning a $10bn eurobond programme next year, with eurobonds worth $3bn-4bn to be sold in the first quarter of 2018.

The government has not yet appointed any banks or advisers to manage the transactions.

In May this year Cairo launched a $3bn tap of its existing $4bn triple-tranche eurobond, raising $1bn more in new funds than the previously indicated amount in the second aggressive borrowing move this year.

The move came after the government approved raising the limit of the maximum amount of dollar bonds the country could issue on international markets by $2bn. The ceiling of international dollar issuances to fixed income investors was raised from $5bn.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.