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FINANCIAL NEWS
Egypt to issue USD4bn in Eurobond sale
25 Jan 2017
(MENAFN) Egypt aims to sell USD4bn in a triple-tranche Eurobond issuance with lower than predicted yields.
Accordingly, the country predicted to purchase USD1.75bn in 5 years bonds at 6.125 percent, USD1bn in 10-year bonds at 7.50-7.625 percent.
Moreover, the profits are much better than projected, while the expected yields for the 5-year was at 6.5 and now it’s at 6.125.
The country has been seeking a variety of funding sources, from development loans to foreign grants and aid to plug its financing needs.
M
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