‘Trailblazing’ Egypt issues first sovereign green bond in MENA

AdobeStock_Egyptflag_575x375_01Sept2020
By Mariam Meskin
01 Oct 2020

Egypt this week became the first sovereign issuer in the Middle East and North Africa to issue a green bond. The deal had been delayed by the coronavirus pandemic, bankers said, but it gained considerable traction from investors when it was finally brought to market.

Egypt priced the $750m 5.25% October 2025 Reg S/144A deal at 492bp over mid-swaps on Thursday evening. It had started initial price thoughts at 5.75% area and moved to guidance at 5.50% area. The book reached $3bn.

“This inaugural green transaction for Egypt confirms their status as a trailblazer in the MENA region,” ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial