Egypt: Bond pricing reflects improved risk perceptions


Issue 304 - 11 Jul 2015 | 1 minute read

Improved perceptions of political and economic risk were reflected in pricing of the $1.5bn sovereign Eurobond, which closed on 4 June, and could be apparent when Egyptian borrowers return to the market in coming months. With the proceeds to be used for general budgetary purposes, the ten-year bond was priced at a coupon rate of 5.875%, compared to an initial guide price of 6.25%. Lead managed by a US-French grouping of BNP Paribas, Citigroup, JP Morgan, Morgan Stanley and Natixis, it marked Egypt’s return to the international debt market after a five-year hiatus. Fitch Ratings assigned the bond (maturing 11 June 2025) a B rating.

Tagged with:

Pin Strategy & risk

Pin Egypt

Want to read more?

Subscribe to African Energy

View subscription options

Don't have an account?

Register for access to our free content

An account also allows you to view selected free articles, set up news alerts, search our African Energy Live Data power projects database and view project locations on our interactive map

Register