Egypt to issue next Eurobonds on Luxembourg stock exchange in April

The Finance Ministry will issue its anticipated euro denominated Eurobonds on the Luxembourg stock exchange in three weeks.

Official sources told Al-Borsa newspaper that the overdraft of the issuance will be finalized by the end of the week and it would include disclosures on Egypt’s commitments, including the country’s foreign debt.

This came as a response to the requests of the investment banks during the latest Eurobond issuance.

The sources added that the roadshow will start few days before the issuance to agree on the pricing and the value of the issuance in light of meetings with investors.

They further said that defining the price hinges on a number of important factors, such as political events in Europe and the U.S. and their effect on stock market’s transactions.

The value of the issue is expected to be €1-1.5 billion, but the sources said that the value could exceed €2 billion, a decision that would be taken during the roadshow.