Egypt issues senior unsecured notes with JP Morgan as stabilisation coordinator

JP Morgan Securities PLC announced on Tuesday its role as the Stabilisation Coordinator for Egypt’s latest bond issuance, consisting of 5-year and 8-year senior unsecured notes listed on the London Stock Exchange.

The notes, with a USD benchmark and a standard denomination of $200,000 plus increments of $1,000, have an unconfirmed offer price. The stabilisation period begins immediately and will extend until no later than February 28, 2025.

JP Morgan, alongside co-managers Citigroup, Goldman Sachs, HSBC, Standard Chartered, and SMBC Bank, is authorised to execute stabilisation transactions. These may include over-allotments of up to 5 per cent of the total nominal amount to support the market price of the securities. The transactions are discretionary and may be discontinued at any time.

The issuance is directed at professional investors and high-net-worth individuals outside the UK. It is not registered under the US Securities Act of 1933, restricting its sale within the United States.

Attribution: Investing.com

Subediting: Y.Yasser