May 24, 2017 / 6:20 PM / a year ago

Egypt Eurobond sale to cover FY 2017-18 financing needs -fin min

CAIRO, May 24 (Reuters) - Egyptian Finance Minister Amr El Garhy said on Wednesday that the country’s $3 billion Eurobond sale would cover “to a large extent” its financing needs for the 2017-18 fiscal year but that it could tap markets again in February or March of 2018.

Garhy told Reuters in a telephone interview that 80 percent of the money raised from the Eurobond sale came from North America and Europe, signalling foreign investment appetite, and that the proceeds would reach the central bank by May 31. (Reporting by Ehab Farouk; Writing by Ahmed Aboulenein; Editing by Hugh Lawson)

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