Dechert Advises on Egypt’s US$3 Billion Eurobond Issuance

June 01, 2017

The Arab Republic of Egypt closed a US$3 billion multi-tranche sovereign bond issuance consisting of $750,000,000 6.125% notes due 2022, $1 billion 7.50% notes due 2027 and $1.25 billion 8.50% notes due 2047 issued under its US$10 billion Global Medium Term Note Programme. Egypt was advised by a London-based team from Dechert LLP consisting of Camille Abousleiman, Patrick Lyons, Jennifer Buckett and Amy Rees.

This transaction follows Dechert’s representation of the Republic in connection with its issuances in January 2017, which was the largest ever public bond issuance out of Egypt and Africa, and November 2016, for which Dechert’s London international capital markets team was named winner of The Middle East Legal Awards 2017 Banking and Finance Team of the Year Award. The Dechert team also advised the Republic on the establishment of its GMTN Programme and the issuance of US$1.5 billion of notes thereunder in June 2015, which marked the country’s return to the international debt capital markets after a nearly five-year absence.

The Notes are listed on the London Stock Exchange and Luxembourg Stock Exchange.

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