Egypt Plans Eurobond Sales After Cash Infusion Averts Crisis
- Could sell up to $3 billion in external debt through June
- Egypt hasn’t borrowed internationally since late 2021
Residential and commercial buildings in Cairo, Egypt.
Photographer: Islam Safwat/BloombergThis article is for subscribers only.
Egypt is planning to tap international markets to sell dollar debt, or eurobonds, as soon as this fiscal year for the first time since late 2021, according to people familiar with the matter.
The country plans to sell around $3 billion of external debt in different tranches during the fiscal year through June, Finance Minister Ahmed Kouchouk told international investors in several in-person meetings in London this week, people with familiar with the talks said, asking not to be named as those discussions were closed to the press.