No. 18



Egypt To Offer $300-400Mn In Sovereign Bonds

Egypt plans to issue $300-400mn in sovereign bonds this year with a view to establishing an international benchmark for the country, according to a Ministry of Finance statement on 19 April. The bonds will be issued with an interest rate of between 4-5%, compared to local treasury bills issued at around 11%. According to a market report by Cairo-based EFG-Hermes, the bond issue is also likely to help repay domestic...