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Five international banks were chosen to arrange Egypt’s dollar-denominated eurobond issuance on 5 January 2018. The institutions are HSBC, JP Morgan, Morgan Stanley, Citibank and the National Bank of Abu Dhabi (NBAD), Finance Minister Amr El-Garhy announced on Thursday.

El-Garhy said the $4bn eurobond issuance will be at the end of January 2018, which is a sign of the growing confidence in the Egyptian economy after the progress of the government’s economic reform programme, pointing out that five banks were chosen out of 20 global banks.

 

Earlier in 2017, the government sold $7bn in 5-, 10-, and 30-year bonds.

 

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