April 11, 2018 / 10:45 AM / 11 days ago

Egypt aims to issue dollar-denominated Eurobonds worth $6-$7 bln in 2018/19 -minister

CAIRO, April 11 (Reuters) - Egypt aims to issue dollar-denominated Eurobonds worth $6 to $7 billion in the 2018/19 fiscal year that begins in July, finance minister Amr El Garhy said on Wednesday.

Egypt this week raised $2.46 billion in a euro-denominated bond sale with maturities of eight and 12 years at rates of 4.75 and 5.625 percent respectively.

As part of a drive to plug its budget deficit and boost dollar holdings, Egypt also sold $4 billion in dollar-denominated bonds in February, (Reporting by Moemen Saeed Atallah Writing by Arwa Gaballa; editing by John Stonestreet)

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