Egypt to issue more Eurobond

Egypt will issue a 1.5 billion euro bond by the end of November and plans to launch a new $10 billion Eurobond programme next year, the Boursa newspaper reported on Sunday.

The Finance Minister Amr El Garhy said Cairo planned to sell Eurobonds worth $3 billion to $4 billion in the first quarter of 2018, but did not give a detailed timetable for the new programme.

Earlier this year, Egypt sold $7 billion in five, 10- and 30-year bonds, part of its return to international markets after turmoil following the ouster of president Hosni Mubarak in 2011.