Egypt
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Bookrunner hails borrower’s “outstanding” result versus its regular curve despite pricing north of 10% barrier -
Last year's emerging market sell-off meant Egypt lost access to the primary bond market
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Egypt would be the first B rated issuer to print a Panda bond
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Egypt is mulling a Panda debut but its traditional investor base may also be receptive to a deal
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Sovereign will have to look outside of conventional bonds for cheaper funding
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Meanwhile, Egypt is nearing its own IMF deal but should not need to restructure its debts
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The north African country thought to have no access to international debt capital markets
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CBoM follows Nigeria and Egypt in trading below reoffer as US Treasuries sell off
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EM sovereign's dollar deal could reach $4bn
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A market that has in previous years promised much but delivered little seems finally to be growing thanks to sovereign issuance
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African Export-Import Bank launched a dual tranche dollar bond on Monday morning, with orders exceeding $3bn by midday. Emerging market bank issuers have been especially active in recent month thanks to attractive credit conditions.
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A consortium of international lenders is funding the development of Egypt’s largest solar plant.
