Egypt seeks proposals for dollar bond issues — banking sources

DUBAI: Egypt has asked banks for proposals to arrange US dollar-denominated Eurobonds, banking sources said.

The request was made last week, the sources said, but provided no further details.

The finance ministry was not immediately available for comment, but Finance Minister Amr Al Garhy said in October that Egypt would issue a dollar-denominated Eurobond between January and February 2018, to be followed by a euro-denominated debt sale later in the year.

Egypt issued $7 billion (Dh25.69 billion) in international bonds this year, through a $4 billion trade in January, and a reopening of the same bond in May. BNP Paribas, Citigroup, JP Morgan and Natixis arranged the issues.