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English news

09-Jan-2017

Eurobond roadshow to focus on Dubai, Abu Dhabi, London, New York, Boston, Los Anglos

Bank coalition advising on Egypt's planned USD2.5-3bn Eurobond issuance has completed promotion plans in coordination with the Ministry of Finance. The seven-day roadshow will focus on Dubai, Abu Dhabi, London, New York, Boston, Los Anglos. Long-term bonds are planned to be promoted in the U.S. and the U.K., the sources added. Tenures range between five and ten years, as per the plan. Previous reports quoted the Deputy Minister of Finance, Ahmed Khouchouk, as saying that tenures may reach 30 years. The issuance is being managed by Natixis, Citi, JPMorgan, and BNP Paribas. The Ministry will reportedly sign the plan within the coming days for it to be implemented. Kouchouk had previously said in November that the government plans to issue USD5bn Euro-bond in 2017, divided into two tranches worth USD2-2.5bn each, with the first to be issued in January. (Al Mal)

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