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Egypt raises USD4bn from public bond issuance

29 Jan 2017

(MENAFN) Egypt has raised almost USD4bn from its first public bond issuance, after the approval of a loan from the IMF.

Additionally, the USD4bn was distributed amid 5-year, 10-year and 30-year bonds at a value of 6.125pct, 7.5pct and 8.5 percent, respectively.

Meanwhile, there was a very strong demand and the bonds had been covered many times, while Egypt is planning to be a frequent bond issuer depending on its needs and on the global market.

Moreover, the country has been seeking to bridge its financial gap from a variety of funding sources, involving grants, loans, aid and the issuance of bonds.

MENAFN2901201700450000ID1095223269

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