Issuer: Egyptian Financial Company for Sovereign Taskeek
Obligor: Arab Republic of Egypt
Size: $1.5 billion
Structure: Sukuk
Tenor: Three years
Banks: Abu Dhabi Islamic Bank, Citi, Crédit Agricole, Emirates NBD Capital, First Abu Dhabi Bank and HSBC (joint lead managers and bookrunners)
Date: February 2023
In one of the most keenly anticipated debt market transactions, the Arab Republic of Egypt finally delivered its maiden international sukuk last year. In doing so, it joined the ranks of almost every other Islamic country in accessing this form of financing.
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