Cairo – Mubasher: Egypt plans to issue two consecutive international bonds in the first quarter of 2018, starting from the end of January, finance minister Amr El-Garhy said.
El-Garhy forecast Egypt to issue the first US dollar-denominated bonds by the end of January 2017 or early February and the Euro-denominated bonds are expected to be issued afterwards in February or March, according to Bloomberg.
Euro-denominated bonds will be issued at a maturity of five to ten years, while US dollar-denominated bonds will have a maturity period of five, ten, and 30 years, he added, pointing out that another maturity period may be added to deepen the bond yield curve.
In October, the minister said that Egypt plans to issue US dollar-denominated bonds at $3 billion, in addition to Euro-denominated bonds at EUR 1 billion in 2018.
