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Egypt to get $3bn from Eurobonds in May

Egypt to get $3bn from Eurobonds in May
The Egyptian Ministry of Finance

Cairo - Mubasher: The Egyptian Ministry of Finance (MoF) said that it will raise $3 billion from Eurobonds sale by the end of May, as reported by Reuters on Wednesday.

Finance minister, Amr El-Garhy said they have received demands with a total value of $24.5 billion for the international bonds within four months, of which Egypt has obtained $4 billion, and $3 billion on Wednesday 24 May.

The head of the Debt Management department in the Egyptian Ministry of Finance (MoF) said earlier that subscription for the USD international bonds has been reopened.

Samy Khallaf added in a phone call with Mubasher on Wednesday that investors’ requests to subscribe in Egyptian bonds will be received and then evaluated based on its correspondence to the demanded return.