Egypt blow-out leaves syndicates looking at long end after 40 year success

Egypt Pyramids_Alamy_230x150
By Ross Lancaster
14 Nov 2019

The Arab Republic of Egypt this week proved that emerging market bond investors will still part with their cash even at this stage in the year if the deal is right, while at the same time proving that ultra-long dated bond funding is open to emerging markets issuers.

There had been some uncertainty in recent weeks about conditions in the primary markets for EM bonds. While most new deals have been absorbed into the market, one trade from Averda was pulled last week and another, from Pearl Petroleum, postponed. That came on the back of a ...

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