Egypt’s $750 Million Green Bonds Offering


Linklaters and Zaki Hashem & Partners have advised the Joint Bookrunners and Joint Lead Managers on the first sovereign green bond issue in the Middle East and North Africa region.

Egypt issued its first green bonds in the aggregate principal amount of $750 million with an annual coupon of 5.250% and a maturity date in 2025. Egypt has a portfolio of green projects worth $1.9 billion, or about £30 billion. Green bonds finance environmentally friendly projects, including energy efficiency, pollution prevention, clean transportation and new green technologies.

The bonds have been listed on the London Stock Exchange (LSE) and admitted to the LSE’s dedicated Sustainable Bond Market (SBM) which champions innovative issuers in sustainable finance and improves access, flexibility and transparency for investors.

Citigroup Global Markets Limited, Credit Agricole Corporate and Investment Bank, Deutsche Bank AG and HSBC Bank plc (the Joint Bookrunners and Joint Lead Managers) were selected by the Egyptian Ministry of Finance to manage the issuance.

The Linklaters team was led by Richard O’Callaghan (Picture – Partner, Capital Markets) and included Cecil Quillen (Partner, Capital Markets), Nicola Minervini (Managing Associate, Capital Markets), Scott James (Senior Associate, Capital Markets) and Tiana Cherry (Associate, Capital Markets).

The Zaki Hashem & Partners team was led by Ragia Omran (Of Counsel) and included Peter Maurice (Senior Associate) and Reem Abu-Zahra (Associate).

Involved fees earner: Tiana Cherry – Linklaters; Scott James – Linklaters; Nicola Minervini – Linklaters; Richard O’Callaghan – Linklaters; Cecil Quillen – Linklaters;

Law Firms: Linklaters;

Clients: Citigroup Global Markets Ltd; Crédit Agricole Corporate and Investment Bank; Deutsche Bank AG; Hsbc Bank plc;

Author: Michael Patrini.