Egypt

Fitch has removed Afreximbank from rating watch negative, partly because of its “excellent” risk mitigants, as the development bank continues to arrange a loan of at least $750m.

Domestic opposition could derail Egypt’s IMF deal and threaten plans for a dollar market return, analysts have warned.

Egypt has picked four international banks to manage its upcoming bond sale as it awaits approval on a $12bn extended fund facility (EFF) from the IMF’s executive board.

Egypt has picked four international banks to manage its upcoming bond sale as it awaits approval on a $12bn extended fund facility (EFF) from the IMF’s executive board.

Sovereign mandates are starting to trickle through in CEEMEA as borrowers ready themselves for September. Bahrain has picked five banks to manage a dollar transaction and the market is waiting for updates from Egypt and Nigeria.

The deadline for responses to Egypt’s RFP passed at noon in Cairo on Thursday with a decision on the mandate expected as soon as early next week, said one DCM banker.

African Export-Import Bank has appointed a new director for syndications, after hiring another senior loan syndication banker earlier this summer.

Egypt published a request for proposals for a new dollar bond on Wednesday as it works towards an agreement with the International Monetary Fund.

The former head of loan syndication at African Development Bank has left for a role at a developmental financial institution in Cairo.

Cleopatra Hospital Co has raised E£360m ($40m) with an IPO that its vice-chairman said was a sign of renewed investor confidence in Egypt’s capital markets and healthcare sector.

Egypt’s Banque Misr is finalising its second syndicated loan in over a decade, a murabaha deal for $200m.

Egypt’s Banque du Caire has cancelled plans to raise a loan for as much as $250m, but may consider signing a loan in 2016 instead.