Athletic

Egypt to offer foreign-currency bond

Egyptian government says it plans to issue foreign-currency bonds in early 2019 to raise between $3 billion to $7 billion.

The country’s Finance Minister, Mohamed Maait, who made this known said on Wednesday said that the offering would take place in February or March.

He added that Egypt also plans to issue a number of dollar-denominated and euro-denominated bonds by the end of this fiscal year in June.

Another offering of green bonds as well as international bonds in an unspecified Asian currency will be offered after that, JP Morgan, HSBC and Citigroup will manage the dollar-denominated issue and BNP Paribas, Natixis, Alex Bank and Standard Chartered will manage the euro-denominated issue, the Ministry said.

It would be recalled that Egypt raised 2 billion euros ($2.29 billion) from its eurobond sale in April last year.

Source: Voice of Nigeria