Linklaters advises as Egypt raises $4bn in bond issue

Linklaters has advised on the recent $4bn bond issue by the Egyptian sovereign. The bonds were issued at three maturities with a five-year and 10-year tranche raising $1.25bn each and a 30-year tranche raising $1.5bn. 

The bonds are listed solely on the London Stock Exchange, taking the total number of African sovereign bonds listed in London to 19, including those by Gabon, Ghana, Nigeria and Zambia.  

Richard O’Callaghan, Capital Markets partner at Linklaters, says:“We were delighted to assist. This successful trade not only signals a vote of confidence in the Egyptian sovereign as a regular borrower in the international markets, but also shows that investors’ search for yield is pushing them to expand their appetite for risk.” 

 

Linklaters advised Citigroup, First Abu Dhabi Bank, HSBC Bank, J.P.Morgan and Morgan Stanley as the joint lead managers on the deal. The team was led by Capital Markets partners Richard O’Callaghan and Cecil Quillen

Linklaters also recently advised on the establishment of a Global Medium Term Note Programme for the Government of the Sultanate of Oman, and on the issuance of three series of bonds under it, totalling $6.5bn.