Egypt issues €2 bln international bonds in 2 tranches

Egypt has put up for sale international bonds at a value of €2 billion in two tranches, the Ministry of Finance announced.

According to a statement Egypt issued 6-year bonds worth €750 million, maturing on April 11, 2025 in addition to 12-year bonds at a value of €1.25 billion, maturing on April 11, 2031.

There is an increasing demand for Egypt’s international bonds, the statement said, noting that Cairo receives about €9 billion worth of offers for the six- and 12-year euro-denominated bonds, representing more than four times of the bonds’ value.

source: MENA