Egypt sees new international bond offering end May or early June

Egypt is planning to issue new international bonds at the end of May or start of June, the country’s Minister of Finance Amr el-Garhy said Sunday.

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.