Egypt to issue $1.5-2 bln international bonds at end of next week

Egypt will issue new international bonds ranging between $1.5 billion and $2 billion at the end of the next week, Minister of Finance Amr el-Garhy announced Tuesday.

This comes after finding strong investor appetite for Egypt’s $4 billion issuance in January.

Garhy said at the end of April that Egypt was considering a $1.5-$2 billion in international bond offering in the coming weeks.

Egypt sold $4 billion of international bonds in three tranches in January, raising twice as much as targeted and at lower yields than initially expected.