Cairo – Mubasher: Egypt’s Ministry of Finance issued dollar-denominated bonds worth $4 billion on the Irish Stock Exchange as per international standards, according to a statement on Thursday.
The issuance was carried out through three tranches: $1.36 billion bonds with 4.62% annual yields, $1.32 billion bonds with 6.75% annual yields and $1.32 billion with 7% annual yields callable in 10 December 2017, 10 November 2024 and 10 November 2028 respectively.
The proceedings will be used to alleviate pressures on local financing sources, lower costs and public debt bill and recover the Egyptian economy, the statement revealed.
