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English news

22-Aug-2016

Egypt eyes Eurobond yield at 5.5-6% for September/October issuance, Deputy Finance Minister says

Deputy Finance Minister for fiscal policies Ahmed Kojak said that Egypt expects its Eurobond issuance at September-end or early-October to have a yield of 5.5-6% carrying maturities of 5-10 years. Earlier this month, the government had approved plans for international issuance of USD3-5bn, and last week it appointed JPMorgan, Citi, BNP Paribas and Natixis to manage the offering. The amount issued may increase if there is demand from investors at appropriate prices, and the cost can be lowered if the interest rate prices offered are high, he added. (Reuters)

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