AGL 39.50 Decreased By ▼ -0.50 (-1.25%)
AIRLINK 128.18 Decreased By ▼ -0.88 (-0.68%)
BOP 6.82 Increased By ▲ 0.07 (1.04%)
CNERGY 4.70 Increased By ▲ 0.21 (4.68%)
DCL 8.47 Decreased By ▼ -0.08 (-0.94%)
DFML 41.28 Increased By ▲ 0.46 (1.13%)
DGKC 82.26 Increased By ▲ 1.30 (1.61%)
FCCL 32.95 Increased By ▲ 0.18 (0.55%)
FFBL 73.50 Decreased By ▼ -0.93 (-1.25%)
FFL 11.88 Increased By ▲ 0.14 (1.19%)
HUBC 110.75 Increased By ▲ 1.17 (1.07%)
HUMNL 14.55 Increased By ▲ 0.80 (5.82%)
KEL 5.21 Decreased By ▼ -0.10 (-1.88%)
KOSM 7.64 Decreased By ▼ -0.08 (-1.04%)
MLCF 38.70 Increased By ▲ 0.10 (0.26%)
NBP 64.00 Increased By ▲ 0.49 (0.77%)
OGDC 193.11 Decreased By ▼ -1.58 (-0.81%)
PAEL 25.55 Decreased By ▼ -0.16 (-0.62%)
PIBTL 7.37 Decreased By ▼ -0.02 (-0.27%)
PPL 154.94 Decreased By ▼ -0.51 (-0.33%)
PRL 25.95 Increased By ▲ 0.16 (0.62%)
PTC 17.91 Increased By ▲ 0.41 (2.34%)
SEARL 82.76 Increased By ▲ 4.11 (5.23%)
TELE 7.71 Decreased By ▼ -0.15 (-1.91%)
TOMCL 33.31 Decreased By ▼ -0.42 (-1.25%)
TPLP 8.54 Increased By ▲ 0.14 (1.67%)
TREET 16.46 Increased By ▲ 0.19 (1.17%)
TRG 56.81 Decreased By ▼ -1.41 (-2.42%)
UNITY 27.55 Increased By ▲ 0.06 (0.22%)
WTL 1.38 Decreased By ▼ -0.01 (-0.72%)
BR100 10,543 Increased By 98.2 (0.94%)
BR30 31,290 Increased By 100.3 (0.32%)
KSE100 98,239 Increased By 441.1 (0.45%)
KSE30 30,637 Increased By 156.5 (0.51%)

Egypt has issued $4 billion in dollar denominated bonds with maturities of five, 10 and 30 years in a sale that was five times oversubscribed, the Finance Ministry said on Wednesday. The issue included $750 million in five-year bonds with a return of 6.2 percent, $1.75 billion in 10-year bonds with a return of 7.6 percent and 1.5 billion in 30-year bonds, with a return of 8.7 percent, the ministry said.
The issue attracted $21.5 billion in bids, the ministry said. The money raised will be used to finance the state budget, said Deputy Finance Minister Ahmed Kouchouk. Most bids were for longer maturity 10- and 30-year bonds, Kouchouk told Reuters, adding that he considered the yield on the bonds "very good" for Egypt, in line or lower than prevailing yields.
Finance Minister Mohamed Maait said Egypt will return to the international bond market before the end of the fiscal year in June to issue bonds in a currency other than the dollar.

Copyright Reuters, 2019

Comments

Comments are closed.