Egypt sees eurobond yield at 5.5-6% for Setemober, October issuance

August 21, 2016 2:40 pm

Cairo, Egypt at night. (Image: Alamy)

Egypt expects its eurobond issuance at the end of September or early October to have a yield between 5.5 percent and 6 percent, Deputy Finance Minister for fiscal policies Ahmed Kojak told Reuters on Sunday.

Egypt’s government this month approved plans for international issuance of between $3 billion and $5 billion.

Last week Egypt appointed JPMorgan, Citi, BNP Paribas and Natixis to lead manage its international bond offering.

“We aim to issue eurobonds worth $3 billion with interest rates ranging between 5.5 and 6 percent and with maturity of five to ten years,” Kojak said.

“If we find great appetite and demand from investors for this issuance and at appropriate prices then we could increase the amount issued and we can lower the cost of the issuance if the interest rate prices offered are high,” he said.

Reuters
By Reuters
A division of Thomson Reuters, Reuters is an international news agency headquartered in London, England, and provides up-to-the-minute news and views on global and regional events.



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