Egypt has raised $4bn from a Eurobond, the Finance Ministry announced on 14 February. The bond, three times oversubscribed, had been in the pipeline since October (MEES, 20 October 2017). The issue consists of three tranches: $1.25bn of five-year paper with a yield of 5.58%; $1.25bn of 10-year paper at 6.59%; and $1.5bn of 30-year note at 7.9%.

Cairo plans a €1-1.5bn bond issue in April, denominated in Euros, Finance Minister Amr al-Garhy says.

Pricing is seen as favorable for Egypt...