HSBC, JP Morgan, Morgan Stanley, Citibank, NBAD to arrange Egypt’s next eurobond issuance

Last updated: December 28, 2017 8:05 pm

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Egypt's Minister of Finance Amr El-Garhy speaks during an American Chamber of Commerce in Egypt luncheon in New York, U.S., October 16, 2017. REUTERS/Brendan McDermid

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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By Mohamed Samir

Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: https://twitter.com/Moh_S_Khedr LinkedIn: https://www.linkedin.com/in/mohamed-samir-khedr/