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Egypt has no intention to issue more Eurobonds bonds during fiscal year 2020/2021, its Minister of Finance Mohamed Maait announced on Tuesday.
On Monday, Egypt sold $3.75 billion in Eurobonds to finance a part of its budget deficit after receiving $16.5 billion in orders.
The issuance included the sale of $750 million in five-year bonds at 3.875 percent, $1.5 billion in 10-year bonds at 5.875%, and $1.5 billion in 40-year notes at 7.5 percent.
Low global interest rates on long-term notes have prompted the country to tap the international debt market to extend the maturity of public debt, Maait pointed out.
