Egypt sells $5 billion in three tranches of bonds

Egypt sold on Thursday $5 billion in bonds in three tranches with maturities of four, 12 and 30 years, a document showed.

Egypt’s economy has been pressured by the novel coronavirus pandemic, which has shut down its tourism sector, a key source of foreign revenue. Egypt sold $1.25 billion in four-year notes at 5.75 per cent, $1.75 billion in 12-year bonds at 7.625 per cent and $2 billion in 30-year notes at 8.875per cent, a document from one of the banks leading the deal showed.