Egypt to issue more int’l bonds by end of June: Minister

CAIRO – 20 February 2019: Egypt will return to the international bond market before the end of the current fiscal year 2018/2019 to issue bonds in a currency other than the dollar, Minister of Finance Mohamed Ma’it told Reuters Wednesday.

Ma’it clarified that the upcoming issuance will be in currencies other than dollar or through new products.

The Ministry of Finance announced earlier today that Egypt issued international bonds worth $4 billion in three categories that was five times oversubscribed.

The dollar-denominated bonds came with maturities of five, 10 and 30 years in a sale and will be offered at high revenues, as the subscriptions exceeded $21.5 billion.

Finance ministry launches promotion campaign of its int'l bonds in S.Korea

CAIRO - 8 October 2018: Egyptian Finance Minister Mohamed Mait launched on Sunday a pan-Asian roadshow to promote its international bonds in the South Korean capital, Seoul. The promotion campaign will continue in November in several important Asian markets, topped by Singapore, Malaysia, Hong Kong, China and Japan.

Ma’it announced in January that the Ministry of Finance obtained the approval of the Council of Ministers to issue international bonds and the procedures started with a value of not less than $3 billion and not more than$7 billion.

Egypt agrees to issue int'l bonds worth from $3-7B: Ma'it

CAIRO - 13 January 2018: Ministry of Finance obtained the approval of the Council of Ministers to issue international bonds and the procedures have been started with a value of not less than $3 billion and will not exceed $ 7 billion, Minister of Finance Mohamed Ma'it said.

In October 2018, Mait launched a pan-Asian road show to promote its international bonds in the South Korean capital, Seoul. The promotion campaign continued in November in several important Asian markets, topped by Singapore, Malaysia, Hong Kong, China and Japan.