Egypt may issue $1.5-2 billion in international bonds in few weeks

Egypt may issue $1.5 billion to $2 billion in international bonds in the coming few weeks, Finance Minister Amr el-Garhy said Saturday evening in a phone interview with local television channel CBC.

“We have a chance over the few upcoming weeks to reopen the bonds we issued before, worth $1.5 billion and $2 billion,” Garhy said.

Egypt sold $4 billion of Eurobonds in three tranches in January, raising twice as much as targeted and at lower yields than initially expected.