October 2, 2017 / 3:39 PM / a year ago

REFILE-Egypt considers only European banks for euro bond - sources

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LONDON, Oct 2 (IFR) - Egypt is considering hiring only European banks for its forthcoming euro bond deal, according to sources.

The sovereign is likely to issue a bond between €1bn and €2bn before the end of 2017, two ministry sources told Reuters last month, as it seeks to diversify its funding sources.

Egypt was last in the international bond market in May when it reopened three US dollar bonds to raise US$3bn.

The bookrunners on that deal were BNP Paribas, Citigroup, JP Morgan and Natixis. Those were the same four banks on a US$4bn trade in January when the three US dollar bonds were originally sold.

Egypt’s ministry of finance did not immediately respond to requests for comment.

Reporting by Sudip Roy; editing by Philip Wright

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