Reported 1 day ago
Egypt successfully issued $2 billion in dollar bonds for the first time in nearly two years, signaling a recovery from its severe economic crisis. The offering consisted of $1.25 billion in five-year notes at an 8.625% yield and $750 million in eight-year debt at 9.45%. This move, following major interest rate hikes and a significant currency devaluation, aims to alleviate a foreign currency shortage and was bolstered by funding commitments from international partners.
Source: YAHOO