VOL. XXXVII

NO. 33

16-MAY-1994

Financial and Banking News

Capital Markets

First Egyptian Bond Issue Three Times Oversubscribed

The first bond issue raised by an Egyptian company since 1951 wasoversubscribed almost three times when subscriptions closed on 8 May. Theissue was for Hoechst Orient and was arranged and guaranteed by Banque Paribas.The amount issued will be Eœ30mn ($8.8mn), comprising 300,000 shares of Eœ100,but requests were received for Eœ83.7mn ($25mn). The bonds are for five yearsand...