We are pleased to announce that ADSERO – Ragy Soliman & Partners’ debt capital markets team, led by Partner Hossam Gramon, Senior Associate Malak Khalil, and Associate Karima Seyam, acted as local counsel for the Egyptian government represented by the Ministry of Finance in updating its existing Global Medium-Term Note Programme USD-denominated Eurobond program from USD 30,000,000,000 to USD 40,000,000,000. ADSERO also acted as local counsel for the Egyptian government in relation to the issuance of USD 1,500,000,000 7.500% Notes due 2061, USD 750,000,000 3.875% Notes due 2026 and USD 1,500,000,000 5.875% Notes due 2031.

Egypt received USD 15,000,000,000 in orders during the sale, which made the issuance around 4x oversubscribed. Citigroup Global Markets Limited, First Abu Dhabi Bank PJSC, Goldman Sachs International, HSBC Bank plc, J.P. Morgan Securities plc, and Standard Chartered Bank acted as Joint Bookrunners and Joint Lead Managers on the transaction.

Dechert LLP acted as international counsel to the Egyptian government, represented by the Egyptian Ministry of Finance, while Zaki Hashim & Partners acted as local counsel, and Linklaters LLP acted as international counsel for the Joint Lead Managers.

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