Urban Housing Agency to sell five-year bonds
Complex Made Simple

Urban Housing Agency to sell five-year bonds

Urban Housing Agency to sell five-year bonds

Egypt's state-run New Urban Communities Authority has announced it plans to sell five-year, floating-rate bonds valued at EGP2.5bn ($457m), Bloomberg has reported. The Egyptian government is trying to encourage companies to sell debt instruments to stimulate a secondary bond market. New Urban Communities Authority is under the supervision of Egypt's housing ministry. It allocates land to develop residential towns in the most populous Arab country.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved