Egypt sold SUKUK with a total value of $ 1.5 billion, spreading over two SIM cards, at a value of $ 700 million for 3.5 years, with a return of $ 6,375, and the second with a value of $ 800 million for $ 7 years with a return of 7.95%, according to two sources familiar with the “East” not. The source explained that the volume requests for Sukuk exceeded more than $ 9 billion, enabling Egypt to reduce the exemption bonus “with 50 basis points on the three and a half -year segment, and 55 basis points on the seven -year segment.” The other source indicated that “this proposal will contribute to the extension of the average age of public debt and reducing its financing burden, and at the same time reflects the attraction of Egyptian credit among international investors.” A previous agreement with Kuwait in June in June, Egypt launched a billion in the interests of the state Kuwait, for a three -year period with an estimated 8% spent semi -annually, and the offer was carried out in favor of the ‘Kuwaiti Finance House’. This offer is a special agreement, as opposed to the current version, which represents Egypt’s return to the public international market after the first release in 2023. See also: Any return and expensive Egypt sold billion dollars to Kuwait? Egypt issued the first sovereign sukuk in its history in 2023 at a value of $ 1.5 billion and attracted subscription requests worth $ 6.1 billion, ie at a rate of more than four times. The current offer falls under the government’s efforts to diversify the sources of financing and benefit from Islamic financing tools to attract part of new investors. The new version “HSBC”, “City Bank”, “Dubai Islamic Bank”, “Abu Dhabi First Bank” and “Abu Dhabi Islamic Bank”, according to one of the sources.
This is the details of Egypt’s issuance of international bonds of $ 1.5 billion
