Egypt raises $4bn in debt sale including 30-year bond

Egypt raises $4bn in debt sale including 30-year bond:

"Egypt has raised $4bn in new debt, in the latest sign that investors’ appetite for relatively risky sovereign paper has been undimmed by the recent market turmoil. The bonds were issued at three maturities, with a five-year tranche and a 10-year tranche raising $1.25bn each, while a 30-year tranche raised $1.5bn. The yields on the bonds were 5.577 per cent, 6.588 per cent and 7.903 per cent, respectively. The 30-year debt sale follows on from last January’s multi-tranche offering, in which Egypt raised $4bn in five-, 10- and 30-year maturities priced at yields of 6.125 per cent, 7.5 per cent and 8.5 per cent. That came shortly after receiving an IMF bail-out in late 2016."



'via Blog this'