‘Trailblazing’ Egypt issues first sovereign green bond in MENA

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,” ...

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