Cairo – Mubasher: Egypt began marketing the MENA’s first sovereign green bonds at about 5.75%, Reuters reported on Tuesday, citing a document.
The value of the five-year US dollar bonds is expected to be at least $500 million.
Proceeds from the issuance will finance green projects in several sectors, including transportation and renewable energy.
Credit Agricole, Citi, HSBC, and Deutsche Bank have been selected to arrange the transaction.
The Minister of Finance, Mohamed Maait, previously said that green bonds will be issued soon, adding that Egypt has portfolio of eligible green projects worth $1.9 billion.
