The Egyptian government's New Urban Communities Authority (NUCA) said on Tuesday it will sell up to 5 billion Egyptian pounds in 5-year bonds next month to finance infrastructure and other development.
NUCA, which is responsible for developing satellite cities, mainly around Cairo, said it had approached banks to manage the sale, which should begin toward the end of February.
'It will range between 3 and 5 billion pounds. We're hoping for 5 billion, but it depends on the market,' NUCA Vice Chairman Safwat Ghanem said by telephone.
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