Egypt to issue int’l bonds by end of June: Maait

Big 5

Egypt will return to the international bond market before the end of the current fiscal year 2018/2019 to issue bonds in a currency other than the dollar, Minister of Finance Mohamed Ma’it said.

Ma’it clarified that the upcoming issuance will be in currencies other than dollar or through new products.

The Ministry of Finance announced earlier today that Egypt issued international bonds worth $4 billion in three categories that was five times oversubscribed.

The dollar-denominated bonds came with maturities of five, 10 and 30 years in a sale and will be offered at high revenues, as the subscriptions exceeded $21.5 billion.