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Yield Hunters Flock to Egypt as It Sells $2 Billion Eurobond

  • Egypt sold a 40-year tranche, its longest yet, yielding 8.15%
  • Arab nation is Africa’s biggest issuer of Eurobonds since 2016
Financial traders work beneath digital boards displaying financial data in the trading hall of the Egyptian stock exchange in Cairo.

Photographer: Shawn Baldwin/Bloomberg

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Egypt sold its longest-dated Eurobond on record Wednesday, part of a $2 billion deal, as the Arab world’s most populous nation seized on appetite for riskier assets to spread out its debt burden.