Egypt government approves Eurobond programme of around $7 billion

Egypt’s government approved a Eurobond programme worth around $7 billion to be issued during the 2017-2018 financial year that began in July, state news agency MENA quoted Egyptian Prime Minister Sherif Ismail as saying Wednesday.

The finance ministry has said it plans to hold its next Eurobond sale before the end of 2017 and will determine the currency and size in coming weeks as it looks to plug a financing gap.

Source: Reuters