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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Finance Ministry to choose 4 investment banks to offer dollar bonds abroad

    Lobo
    Lobo
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    Finance Ministry to choose 4 investment banks to offer dollar bonds abroad Empty Finance Ministry to choose 4 investment banks to offer dollar bonds abroad

    Post by Lobo Thu 18 Aug 2016, 4:25 pm

    August 18, 2016

    Finance Ministry to choose 4 investment banks to offer dollar bonds abroad

    Ministry of Finance plans to choose four investment banks to manage issuing dollar-denominated bonds worth $3bn on global markets.


    Government sources told Daily News Egypt that the ministry is likely to award the offering to four investment banks, including JP Morgan and Morgan Stanley.


    Twenty investment banks have applied to manage the offering in a tender that closed 11 August.

    Vice Minister of Finance for Fiscal Policies and Institutional Reform, Ahmed Kouchouk, had earlier told Daily News Egypt that the bonds maturity periods will range between five and 10 years, along with possible long-term bonds of up to 30 years for European and American investors.

    The Finance Ministry is seeking to offer dollar-denominated bonds worth $3bn in September and October. This comes as a part of the financing for the government reform programme over three years at a total of $21bn, including a $12bn loan from the International Monetary Fund.

    He added that the stock market will mostly be offering on the Luxembourg Stock Exchange, but the final decision will be made after consultation with the investment banks following their selection.

    He pointed out that final decision is set to be made Thursday. As for the role of municipal adviser, he said that it will be chosen from seven applicant Egyptian law firms.
    http://www.dailynewsegypt.com/2016/08/18/536420/?

      Current date/time is Mon 18 Mar 2024, 11:22 pm