U.S. dollar notes are seen in this November 7, 2016 picture illustration - REUTERS/Dado Ruvic/Illustration/File PhotoCAIRO – 23 September 2021: Egypt began Thursday marketing multi-tranche US dollar-denominated bonds, as it seeks to raise up to $3 billion. This is Egypt’s second dollar-denominated bonds issuance in 2021, taking advantage of lower borrowing costs before the US Federal Reserve decides when to reduce monetary stimulus. Citibank, First Abu Dhabi Bank, HSBC, JPMorgan and Standard Chartered were appointed to arrange the bond sale. Egypt turned to international markets to raise $3.8 billion from the sale of dollar-denominated bonds earlier in 2021. It also sold $750 million of green bonds in 2020.
