January 2025: Egypt’s first dollar eurobond since 2021, US$2bn in two tranches (5-year and 8-year) at 8.62% and 9.45%, reopening market access after the Ras El Hekma inflows. Preceded in-window by the US$1.5bn maiden sovereign sukuk (February 2023) and a US$1bn sovereign notes issue in FY2024/25 (per the CBE’s external position report). The Finance Ministry announced a further US$2bn by end-FY2025/26 (with eurobond issuance capped at US$4bn for 2026) and continued samurai/panda-market diversification.
These issuances finance the gap that Gulf deposits and the IMF programme did not cover.
Value: US$2bn (verified against public announcements).
Advisers: JPMorgan Securities distributed the 2025 issue (LSE disclosure); full syndicate/bookrunner list (not disclosed) in the public record reviewed.
Recorded by The Meridian research desk from public announcements, regulatory filings and financial press coverage. Dates and values are as publicly reported.
