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Bond Market News
Egypt Raises $500mn Via Private Placement Bond Taps
April 7, 2026
Egypt raised $500mn through two privately placed bond taps of $250mn each, marking its first international borrowing in six months. The move bypassed the currently inactive public bond market for Middle Eastern issuers, amid the ongoing geopolitical events in Iran and Lebanon. The privately placed taps were in conventional format, adding liquidity to two existing bonds: the 8.625% 2030s and the 7.6% 2029s. This brings Egypt halfway to Finance Minister Ahmed Kouchouk’s target of raising ~$4bn from international markets in the 2025/26 fiscal year, following a $1.5bn sukuk deal in late-September 2025. Egypt is currently rated Caa1/B/B. Analysts have raised their forecast for Egypt’s FY2025-26 current account deficit to 3.3% of GDP (up from 2.2%), driven by three factors: higher energy imports, slower tourism, and a delayed rebound in Suez Canal revenues. Combined with $8–9bn in portfolio outflows since mid-February, Egypt continues to face external financing pressures. Analysts note that it remains unclear whether its recent uptick in international borrowing is a direct response to these pressures.
Its dollar bonds traded stable, with its 7.6% 2029s at 102.0, yielding 6.8%
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