Egypt seeks proposals to arrange dollar bond issues – sources

Egypt has asked banks for proposals to arrange U.S. dollar-denominated Eurobonds, banking sources told Reuters on Sunday.

The request was made last week, the sources said, but provided no further details.

The finance ministry was not immediately available for comment, but Finance Minister Amr el-Garhy said in October that Egypt would issue a dollar-denominated Eurobond between January and February 2018, to be followed by a euro-denominated debt sale later in the year.

Egypt issued $7 billion in international bonds this year, through a $4 billion trade in January, and a re-opening of the same bond in May. BNP Paribas, Citigroup, JP Morgan and Natixis arranged the issues.

Source: Reuters