Cairo – January 28, 2025: Egypt has entered the international debt markets with a new series of senior unsecured notes, as disclosed on the London Stock Exchange by JP Morgan Securities, which has been appointed as the Stabilization Coordinator.
The bonds, which come in 5-year and 8-year maturities, are listed under the USD Benchmark category.
The new offering aims to raise funds for Egypt's ongoing economic initiatives, with the price yet to be confirmed.
Details of the issuance reveal that the bonds will have a standard denomination of $200,000, with increments of $1,000, and will be subject to market conditions at the time of sale.
The stabilization period for the bond issuance started today, Tuesday, and will continue until February 28, 2025.
This bond issuance represents a critical component of Egypt's strategy to attract international investors and raise capital for key infrastructure and development projects.
The bonds are not an offer to underwrite or acquire securities, explained the disclosure, noting that it will be offered to investors outside of the United Kingdom, with specific conditions applied for professional investors and high-net-worth individuals in the UK.
While the document did not specify the value of the offering, a source from an international institution revealed to Al Arabiya Business that typical bond issuances of this nature often range between $1 billion and $1.5 billion per tranche, depending on market benchmarks.
The stabilization process could involve over-allotments of securities, allowing for up to an additional 5 percent of the nominal amount to be issued, and possibly some trading over-the-counter.
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