20 investment banks apply to advise government on offering US dollar-denominated bonds, result to be announced Monday

Ahmed Farahat
1 Min Read
the Egyptian government sold international 10-year bonds worth $1.5bn with a revenue of 6%.(AFP Photo)

A senior government source said that 20 investment banks have submitted requests to the Ministry of Finance to act as financial advisors for the governmental offering of US dollar-denominated bonds on international markets.

The source said a number of those banks applied earlier for the first offering, including Morgan Stanley, J.P. Morgan & Co., and BNP Paribas.
He pointed out that banks that won the technical part have already been selected and notified. He, however, refused to disclose their names now.

The final result will be announced on Monday, after examining the financial proposals.

The government seeks to put up $3bn worth of US dollar-denominated bonds on the international markets in September and October.

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