Egypt is planning to issue $2bn through sovereign sukuk and over $750mn through green bonds. This would mark Egypt’s first sukuk issuance since the Egyptian parliament approved the Sovereign Instrument Law last year to formally allow the issuance of sukuk.
According to an announcement by Mohamed Hegazy, Head of the Debt Management Unit at Egypt’s Ministry of Finance, the government aims to finalise the executive regulations by the end of January in preparation for issuing the first sovereign sukuk within five months.
Egypt’s bonds were slightly lower ~1 point, with its 5.75% 2024s trading at 101.54 yielding 5.05% and its 6.875% 2040s trading at 79.25 yielding 9.25%.
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