Egypt is selling international bonds valued at 2 billion euros through two tranches, with maturities of eight and 12 years and yield of 4.75 and 5.624 percent. Egypt’s Finance Minister Amr al-Garhy said that the offer received strong interest from investors. The purchase orders exceeded 7.5 billion euros with the participation of more than 350 investors in 35 countries, he said. Egypt began implementing an International Monetary Fund (IMF) reform program in November 2016. The international lender made a deal to provide Egypt with a US$12 billion loan in exchange for wide-ranging structural economic reforms.

Source: Egypt Independent April 11, 2018 11:26 UTC