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- PIF-backed Scopely acquires Pokemon GO maker for $3.5bn
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04/04/2018 06:20 AST
Egypt will start meeting bond investors in Europe this week ahead of a potential euro-denominated bond issue, a document from one of the banks appointed to arrange the meetings showed on Tuesday.
It has mandated Banca IMI, BNP Paribas, Deutsche Bank and Standard Chartered Bank as joint bookrunners. Investor meetings will start on April 4 ahead of a potential benchmark-sized bond, which normally means upwards of $500 million (Dh1.84 billion).
Subject to market conditions, the country will proceed with the planned debt sale after the meetings, offering notes with maturities of eight and/or 12 years, according to the document.
Egypt has already raised $4 billion through a triple-tranche bond in February. Last year, it issued $7 billion in international bonds, through a $4 billion trade in January, and a re-opening of the same bond in May. BNP Paribas, Citigroup, JP Morgan and Natixis arranged the issues.
Egypt's economy has been struggling since a 2011 uprising drove tourists and foreign investors away, but it has recovered over the past year, after signing a $12 billion International Monetary Fund deal in late 2016 to boost growth.
In a recent poll by Reuters, Middle East fund managers said they were bullish on Egypt because of an improving macroeconomic outlook, with the country ramping up natural gas production, and political stability. President Abdul Fattah Al Sissi won a second term in national elections, official results showed on Monday.
Gulf News
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
13/03/2025
India's foreign direct investment into Dubai surged to over $3 billion in 2024, making the South Asian nation its top investor, the latest data shows.
Dubai's Department of Economy and Touri
Arab News
12/03/2025
Citi analysts cut their recommendation for U.S. stocks to "neutral" from "overweight" on Monday after recession fears pummelled the market, arguing that the U.S. economy may no longer outpace the res
Reuters
11/03/2025
US President Donald Trump is meeting the CEOs of America's biggest companies, many whose market value has dipped in recent days as recession and inflation fears soured consumer and investor sentiment
Khaleej Times
11/03/2025
The Nasdaq MarketSite at Times Square in New York City. The Nasdaq confirmed a correction last week, having tumbled more than 10% from its December all-time high.. Photos by Reuters file
The
Reuters
11/03/2025
US President Donald Trump's creation of a cryptocurrency reserve shortly before headlining a White House summit on the popular digital asset will get global attention if the reserve grows big enough
Qatar Tribune
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