Egypt aims to sell $2 bln in international bonds after four-year hiatus
CAIRO, Jan 28 (Reuters) - Egypt is aiming to sell $2 billion worth of international bonds by Feb. 4, according to a disclosure to the London Stock Exchange by JPMorgan Securities, a bookrunner for the deal.
The sale will be split into two tranches with maturities of five and eight years and indicative yields of 9.25% and 10%, respectively.
It will be Egypt's first international bond sale since 2021 when it issued $6.75 billion in dollar-denominated bonds.
The new bonds will be listed on the London Stock Exchange.
Egypt is aiming to raise between $3 billion and $4 billion in international debt by the end of the current fiscal year in June, the country's finance minister has said previously.
It needs to repay 750 million euros of bonds maturing in April, $1.5 billion of dollar-denominated bonds in June and a further $750 million of green bonds due in October, according to the Finance Ministry.
Citigroup Global Markets Limited arranging the issue.
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