IMF-Backed Egypt Offers $3 Billion in Bonds Amid Falling Costs
- Country re-opens bonds sold in January at lower yields
- Low supply of high-yielding debt fuels demand: Amundi
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Egypt is selling $3 billion on international bond markets Wednesday, taking advantage of lower borrowing costs after its economic policies earned the International Monetary Fund’s endorsement.
The most populous Arab nation is offering more of the debt it issued in January, but at lower costs, according to person familiar with the deal, across maturities in 2022, 2027 and 2047.