Cairo – Mubasher: Egypt is planning to issue its second dollar-denominated bonds in 2021 on Thursday, in a bid to take advantage of low borrowing costs before the US Federal Reserve decides to reduce its monetary stimulus, Bloomberg reported.
The issuance includes six-, 12-, and 30-year notes at respective initial yields of 6.125%, 7.625%, and 8.875%, a person familiar with the matter told the international news agency.
JPMorgan Chase & Co., Citigroup Inc., HSBC Holdings Plc, and First Abu Dhabi Bank were selected to manage the issuance, targeting to raise $2.5 billion to $3 billion, according to two persons familiar with the matter.
Earlier this year, the most populous Arab nation tapped international markets for $3.8 billion in dollar-denominated bonds.
