"Egypt, which is witnessing violent clashes between supporters of deposed President Mohamed Mursi and the military, raised $1bn from a bond sale to Qatar, according to Exotix Holdings.
The Arab country, whose president was ousted by the army on July 3, a year into his term, sold the three-year notes on July 1 at a coupon of 3.5%, according to a term sheet received by Bloomberg late on Sunday.
Egypt’s former Finance Minister Fayad Abdel Moneim said by phone on June 4 the nation planned to issue $3bn of bonds to Qatar. The bonds will be issued in July, with a maturity of as many as three years and pay a 3.5% coupon, Al Mal newspaper reported that day, citing the Egyptian government. The country’s foreign exchange reserves fell by $1.1bn to $14.9bn in June, according to central bank data."
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