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FINANCIAL NEWS
Egypt sells USD1.5b bonds to facilitate prospect deals
09 Jun 2015
(MENAFN) Egypt sells a ten-year USD1.5b bond (certificate of debt) in order to make some future projects easier to implement and to encourage other local and foreign investments, Reuters reported.
The bond was met with an incredibly strong international demand which made it easier for the African country to return to the debt market this year, a move that can help with its ailing economy.
As well as strong demand from investors whose initial demand was unsatisfied, generous pricing also made the bond very desirable.
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