Cairo – Mubasher: Egypt sold $3.75 billion in Eurobonds on Monday to finance a part of its financial deficit, Reuters reported, citing a document from one of the banks on the deal.
The bonds were sold at significantly lower yields than other bonds recently issued by the country.
The issuance included the sale of $750 million in five-year bonds at 3.875%, $1.5 billion in 10-year bonds at 5.875%, and $1.5 billion in 40-year notes at 7.5%.
A four-year bond was sold at a yield of 5.75% in May 2020, compared to 3.875% for the current five-year bond. A five-year green bond was sold in September at a yield of 5.25%.
“It looks like yields have dropped, by quite a bit, actually,” said Allen Sandeep, Analyst at Naeem Brokerage.
