Eurobonds
These bonds will also provide the required financing to deal with the crisis and repercussions of the Coronavirus pandemic, financing financial stimulus initiatives and the needs of the health sector, as well as financing social protection and human development programs.
Egypt has resorted to the international debt markets as it seeks to overcome the coronavirus crisis that has caused the collapse of tourism, which is a major source of hard currency.
Egypt raised the volume of its international eurobonds program to $30 billion from $20 billion, according to the Luxembourg Stock Exchange’s bulletin.
The settlement of Egypt's first €2 billion euro-denominated international bond issue will take place on Monday.
A wrap-up of the most prominent business news of the day.
Egypt plans to issue $6-7 billion Eurobonds in the new fiscal year 2018/19, Finance Minister Amr el-Garhy said Wednesday.
A wrap-up of the most prominent business news of the day.
The banks are Deutsche Bank, BNP Paribas Bank, Bank of Alexandria "São Paulo" and Standard Chartered Bank.
Egypt will choose the banks that would manage its anticipated euro denominated Eurobonds in two weeks, Finance Minister Amr el-Garhy told Reuters Tuesday.
The exchange rate of the U.S dollar could reach between LE 17.25-17.5 for buying, down from its current level of LE 17.59, banking sources said Saturday.
A wrap-up of the most prominent business news of the day
Egypt’s international reserves could surpass $41 billion for the first time after Egypt received the proceeds from its recent eurobond issuance.
A wrap-up of the most prominent business news of the day
Egypt aims to sell Eurobonds worth $3-4 billion in the fiscal year 2018/2019.
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Deputy Chairman of the National Bank of Egypt said that the huge demand on Egypt’s issuance of Eurobonds signals international confidence in Egypt's economy.
Egypt will start talks this month with European banks to issue euro denominated Eurobonds, Finance Minister Amr el-Garhy told Reuters Wednesday.
Egypt succeeded in issuing Eurobonds worth $4 billion on three tranches; three, five and 30 years, according to the Ministry of Finance's statement.
Egypt is currently monitoring global financial markets to decide on the right time to issue the Eurobonds, Finance Minister Amr el-Garhy said.
A wrap-up of the most prominent business news of the day
