{"id":601089,"date":"2019-02-19T03:59:56","date_gmt":"2019-02-19T03:59:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/19\/egypt-to-take-usd-5-bn-eurobond-issuance-to-market-this-week\/"},"modified":"2019-02-19T03:59:56","modified_gmt":"2019-02-19T03:59:56","slug":"egypt-to-take-usd-5-bn-eurobond-issuance-to-market-this-week","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/19\/egypt-to-take-usd-5-bn-eurobond-issuance-to-market-this-week\/","title":{"rendered":"Egypt to take USD 5 bn eurobond issuance to market this week"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>Egypt to take USD 5 bn eurobond issuance to market this week:<\/b> The Finance Ministry is planning to sell up to USD 5 bn-worth of eurobonds on the Luxembourg Stock Exchange this week, <a href=\"https:\/\/alborsaanews.com\/2019\/02\/18\/1179316\">according to the domestic press<\/a>. The ministry has decided to forgo a roadshow for the issuance, according to an unnamed government source, saying state officials have already tested appetite in meetings with investors regarding over the past several weeks. The proceeds from the issuance will be used \u201cto finance a portion of [Egypt\u2019s] fiscal deficit\u201d or to finance other needs in the state budget, according to the <a href=\"https:\/\/ent.news\/2019\/2\/229.pdf\">issuance prospectus (pdf)<\/a>.<\/p>\n<p><b>Whether you\u2019re a finance nerd or just super-curious, the prospectus is a must-read. <\/b>Or at least a must-skim. Written in dense legalese, it provides simple primers on everything from Egypt and EM risk to a section that, for lack of a better term, describes \u2018how Egypt works.\u2019<\/p>\n<p><b>Advisers:<\/b> 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 \u201cassisting with the offerings.\u201d The ministry also picked Al Tamimi & Co. as domestic legal counsel and Dechert LLP as international legal counsel for all the offerings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt to take USD 5 bn eurobond issuance to market this week: The Finance Ministry is planning to sell up to USD 5 bn-worth of eurobonds on the Luxembourg Stock Exchange this week, according to the domestic press. The ministry has decided to forgo a roadshow for the issuance, according to an unnamed government source, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[7106,72,3690,276,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601089","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-debt","tag-enterpriseam","tag-eurobonds","tag-finance-ministry","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"318fee87-108e-455e-9420-6397f2c59f59","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[601084],"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>Egypt to take USD 5 bn eurobond issuance to market this week - 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\/2019\/02\/19\/egypt-to-take-usd-5-bn-eurobond-issuance-to-market-this-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt to take USD 5 bn eurobond issuance to market this week\" \/>\n<meta property=\"og:description\" content=\"Egypt to take USD 5 bn eurobond issuance to market this week: The Finance Ministry is planning to sell up to USD 5 bn-worth of eurobonds on the Luxembourg Stock Exchange this week, according to the domestic press. 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The prospectus listed high inflation, EGP-to-USD depreciation, a below-investment grade credit rating, and\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":593006,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/14\/egypt-kicks-off-marketing-for-upcoming-eurobond-issuance\/","url_meta":{"origin":601089,"position":1},"title":"Egypt kicks off marketing for upcoming eurobond issuance","author":"enterpriseam admin","date":"14 November 2019","format":false,"excerpt":"Egypt begins marketing for its triple-tranche USD eurobond issuance, says its receiving subscription requests: Egypt began yesterday marketing its upcoming eurobond issuance, Reuters reports, citing a document from one of the issuance\u2019s advisors. The Finance Ministry, which is also inviting subscription requests, and is targeting a sale of between USD\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\/2017\/5\/1090.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602778,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/07\/egypt-closes-eur-2-bn-eurobond-issuance-in-final-intl-debt-auction-for-fy2018-19\/","url_meta":{"origin":601089,"position":2},"title":"Egypt closes EUR 2 bn eurobond issuance in final int\u2019l debt auction for FY2018-19","author":"enterpriseam admin","date":"7 April 2019","format":false,"excerpt":"Egypt closes EUR 2 bn eurobond issuance in final international debt auction for FY2018-19: Egypt sold EUR 2 bn worth of six- and 12-year EUR-denominated bonds in an issuance that went to market on the London Stock Exchange on Thursday, according to a Finance Ministry statement (pdf). The offering was\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":593048,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/17\/egypt-successfully-closes-usd-2-bn-triple-tranche-eurobond-issuance\/","url_meta":{"origin":601089,"position":3},"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":595319,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/23\/egypt-to-tap-intl-banks-to-manage-usd-2-5-3-bn-eurobond-issuance-within-three-weeks\/","url_meta":{"origin":601089,"position":4},"title":"Egypt to tap int\u2019l banks to manage USD 2.5-3 bn eurobond issuance within three weeks","author":"enterpriseam admin","date":"23 September 2019","format":false,"excerpt":"Gov\u2019t to begin talks with banks over USD 2.5-3 bn eurobond issuance within three weeks: The Finance Ministry expects to begin talks within three weeks with some 20 international investment banks and 7-8 local and international law firms to advise on a USD 2.5-3 bn issuance of USD-denominated eurobonds on\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":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":601089,"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\/601089","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=601089"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/601089\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/601084"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=601089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=601089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=601089"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=601089"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=601089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}