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Egypt Weighs $4 Billion Eurobond Sale in January, Official Says

  • Expects to begin search for lead managers within 3 months
  • Egypt has a financing gap of about $10 billion for 2017-18

Egypt plans to return to the international debt markets in January to raise as much as $4 billion to fund the budget deficit, a Finance Ministry official said.

The ministry may approach investment banks to select advisers for the possible sale within three months, the official told Bloomberg on condition of anonymity because the plans have yet to be finalized. The amount and the timing would depend on market conditions, the official said.