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|19 February, 2019

Egypt invites offers for dollar bond through Tuesday -finance minister

The deadline for offers is later on Tuesday.

Image used for illustrative purpose. A bank employee counts stacks of Egyptian 5 pound and 50 piastre notes as he works at Bank Misr in downtown Cairo, Egypt, June 8, 2016.

Image used for illustrative purpose. A bank employee counts stacks of Egyptian 5 pound and 50 piastre notes as he works at Bank Misr in downtown Cairo, Egypt, June 8, 2016.

REUTERS/Amr Abdallah Dalsh

CAIRO- Egypt is marketing a dollar bond to international investors and the deadline for offers is later on Tuesday, Finance Minister Mohamed Maait said.

He declined to comment on the maturity or value of the issue. Local financial newspaper Al-Borsa earlier said Egypt would issue dollar-denominated bonds worth $5 billion this week.

"We started in the morning and will continue to receive offers from investors everywhere in the world until later in the day," Maait told Reuters.

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He told Reuters in January that Egypt planned to launch international bonds in February or March denominated in various currencies, and would seek to raise between $3 billion and $7 billion.

Egypt raised $2.46 billion last April via eight- and 12-year euro-denominated bonds at 4.75 and 5.625 percent interest respectively.

(Reporting by Ehab Farouk; Writing by Yousef Saba; Editing by Kirsten Donovan) ((Yousef.Saba@thomsonreuters.com; +201222184730))

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