{"id":566168,"date":"2021-06-01T14:02:36","date_gmt":"2021-06-01T14:02:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/01\/finmin-will-not-be-selling-usd-2-3-bn-in-eurobonds-this-month\/"},"modified":"2021-06-01T14:02:36","modified_gmt":"2021-06-01T14:02:36","slug":"finmin-will-not-be-selling-usd-2-3-bn-in-eurobonds-this-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/01\/finmin-will-not-be-selling-usd-2-3-bn-in-eurobonds-this-month\/","title":{"rendered":"FinMin will not be selling USD 2-3 bn in eurobonds this month"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>FACT CHECK- The Finance Ministry has denied a CNBC Arabia report that it is <\/strong><strong>planning a fresh sale of eurobonds soon. <\/strong>The report had <a href=\"https:\/\/bit.ly\/3vEPNgd\">quoted banking sources<\/a> saying that ministry officials are in talks with debt investors to raise between USD 2-3 bn on the international debt market before the state\u2019s current fiscal year, which draws to a close on 30 June. The sources claimed the sale would come in two tranches with medium- and long-term maturities, and would be completed in the next two weeks \u2014 or by the end of June at the latest.<\/p>\n<p><strong>The problem is: It\u2019s not true<\/strong>, says Finance Minister Mohamed Maait, who told us this afternoon that he does not plan to tap the global debt market before the end of this fiscal year.<\/p>\n<p><strong>That\u2019s consistent with his previous position: <\/strong><strong>Maait had <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d99bdc9-2f4d-4ae7-b1ab-785780efaeb4\">previously ruled out<\/a><\/strong><strong> new eurobond sales until after the end of he state\u2019s current fiscal year.<\/strong> The state budget gives the government license to borrow up to USD 7 bn through international debt instruments, and the ministry has only used a little over half in the ongoing fiscal year when it sold USD 3.75 bn in USD-denominated eurobonds <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/94498ea7-0305-484a-9bac-6085ffdec1ca\">last February<\/a> to plug in the fiscal deficit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FACT CHECK- The Finance Ministry has denied a CNBC Arabia report that it is planning a fresh sale of eurobonds soon. The report had quoted banking sources saying that ministry officials are in talks with debt investors to raise between USD 2-3 bn on the international debt market before the state\u2019s current fiscal year, which [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":566169,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10145],"tags":[7106,633,3690,276,2585,4237],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-fact-check","tag-debt","tag-enterprisepm","tag-eurobonds","tag-finance-ministry","tag-mohamed-hegazy","tag-speed-round-fact-check","wpautop","entry"],"acf":{"mongo_id":"9d6a1fa9-f72d-4fba-844b-1dfa705e0103","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/392.jpg","photo_position":"above","related_issue":[566164],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>FinMin will not be selling USD 2-3 bn in eurobonds this month - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/01\/finmin-will-not-be-selling-usd-2-3-bn-in-eurobonds-this-month\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinMin will not be selling USD 2-3 bn in eurobonds this month\" \/>\n<meta property=\"og:description\" content=\"FACT CHECK- The Finance Ministry has denied a CNBC Arabia report that it is planning a fresh sale of eurobonds soon. 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Maait denied an earlier report from Asharq Bloomberg suggesting that Egypt is actively moving towards a\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567238,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/egypt-is-pressing-pause-on-usd-denominated-eurobond-issuances-for-the-remainder-of-fy2019-2020\/","url_meta":{"origin":566168,"position":1},"title":"Egypt is pressing pause on USD-denominated eurobond issuances for the remainder of FY2019-2020","author":"enterpriseam admin","date":"16 January 2020","format":false,"excerpt":"EXCLUSIVE- The government is pressing pause on USD-denominated eurobond issuances for the remainder of the current fiscal year and will instead rely on a diverse set of debt instruments during the coming period, Finance Minister Mohamed Maait told Enterprise. Egypt successfully issued USD 2 bn-worth of USD-denominated eurobonds in a\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600445,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/egypt-plans-to-issue-up-to-usd-3-bn-eur-2-bn-in-eurobonds\/","url_meta":{"origin":566168,"position":2},"title":"Egypt plans to issue up to USD 3 bn, EUR 2 bn in eurobonds","author":"enterpriseam admin","date":"30 January 2019","format":false,"excerpt":"Egypt will sell USD 2-3 bn plus EUR 1-2 bn in eurobonds: The Finance Ministry plans to issue USD 2-3 bn of USD-denominated eurobonds in its upcoming international issuance, slated for sometime before the end of the fiscal year this June. It also plans to issue EUR 1-2 bn in\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559926,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/09\/egypt-sells-usd-3-75-bn-of-eurobonds-in-first-intl-debt-sale-of-2021\/","url_meta":{"origin":566168,"position":3},"title":"Egypt sells USD 3.75 bn of eurobonds in first int\u2019l debt sale of 2021","author":"enterpriseam admin","date":"9 February 2021","format":false,"excerpt":"Egypt sold USD 3.75 bn in USD-denominated eurobonds yesterday at \u201csignificantly lower\u201d yields than recent issuances, Reuters reports, citing a document from one of the banks working on the debt sale. Press reports had emerged last year suggesting that Egypt was planning a USD 3-4 bn EUR- or USD-denominated eurobond\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/151.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593048,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/17\/egypt-successfully-closes-usd-2-bn-triple-tranche-eurobond-issuance\/","url_meta":{"origin":566168,"position":4},"title":"Egypt successfully closes USD 2 bn triple-tranche eurobond issuance","author":"enterpriseam admin","date":"17 November 2019","format":false,"excerpt":"Egypt successfully closes USD 2 bn triple-tranche eurobond issuance in first int\u2019l debt auction for FY2019-2020: Egypt sold USD 2 bn-worth of four-, 12-, and 40-year USD-denominated eurobonds in an issuance that went to market on the Luxembourg Stock Exchange on Thursday, the Finance Ministry said. The offering was more\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/738.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597949,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/09\/finmin-could-take-egypts-first-sovereign-sukuks-to-market-by-early-2020-looks-to-hike-cap-on-eurobond-issuances-through-fy2021-2022\/","url_meta":{"origin":566168,"position":5},"title":"FinMin could take Egypt\u2019s first sovereign sukuks to market by early 2020, looks to hike cap on eurobond issuances through FY2021-2022","author":"enterpriseam admin","date":"9 May 2019","format":false,"excerpt":"EXCLUSIVE- Egypt could take to market its maiden issuance of sovereign sukuks in early 2020, a senior government official tells us. Finance Ministry officials have met with executives from Abu Dhabi Islamic Bank and other GCC-based institutions to learn more about the process and the target markets. The ministry will\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/5\/1783.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=566168"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566168\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566164"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/566169"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566168"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566168"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}