Eurobond issuance to take place within the next two months

Eurobond issuance to take place within the next two months: The Finance Ministry is planning to take its international issuances to the market in February or March, Minister Mohamed Maait was quoted as saying by Reuters. The ministry is planning to sell between USD 3-7 bn in USD- and EUR- denominated bonds, Maait noted. The government is also looking to make the first Yen-denominated bond issuance and green bond issuance sometime in 2019.

Advisers: JP Morgan, HSBC, Goldman Sachs and Citibank will advise on the USD-denominated eurobond issuance, while BNP Paribas, Natixis, Bank of Alexandria, and Standard Chartered were tapped to manage the EUR-denominated portion of the issuance. The National Bank of Egypt and Banque Misr will be “assisting with the offerings.” The ministry also picked Al Tamimi & Co. as domestic legal counsel and Dechert LLP as international legal counsel for all the offerings.