• Cairo, Egypt – [11] June 2015 – [The Arab Republic of Egypt] (“Republic” or “Egypt”) is pleased to announce the successful issuance of its 10-year US$1.5 billion sovereign bond issuance (“Notes”).

 This is a landmark transaction for Egypt marking a triumphant return to the international debt capital markets after almost 5 years of absence, with the largest single tranche issuance by the Republic to date.

“This important transaction establishes a key milestone for Egypt's ability to tap the international capital markets and fund its financing requirements at attractive pricing levels. The strong demand we have seen for the issuance reflects investors' positive sentiment towards Egypt’s turnaround story, as well as the continued regional and international support” said His Excellency Dr. Hany Kadry Youssef Dimian, Minister of Finance of Egypt. The renewed confidence in the Egyptian economy was also acknowledged by the rating agencies with Moody’s upgrade of Egypt's credit rating from Caa1 to B3 rating (stable outlook) in April 2015, S&P's change in outlook from stable to positive on its B- rating in May 2015 and Fitch's upgrade from B- to B (stable outlook) in December 2014.

A senior governmental delegation, led by His Excellency the Minister of Finance, conducted a series of targeted fixed income investor meetings to visit key investors in Dubai, Abu Dhabi, London, Los Angeles, Boston and New York. The Notes, offered and sold pursuant to Regulation S and Rule 144A, were priced on 4 June 2015 at a coupon rate of 5.875% (yield of 6.000% with spread of 369.1bps to US Treasury Bond) and saw significant demand from global investors, attracting an order book exceeding US$4.5 billion. The Notes were issued on 11 June 2015. His Excellency the Minister of Finance added that “investors were galvanised by the pace and scale of reforms that have been implemented by the Government to support structural changes and fuel inclusive and sustainable growth”.

The offering attracted over 290 investors from a wide range of geographies. Approximately 45% of the Notes were distributed to investors in the United States, 35% to investors in the United Kingdom, 11% to investors in Europe, 7% to investor in the Middle East and North Africa and 2% in the rest of the world.

The Republic intends to use the proceeds to finance a portion of its budget deficit.

The Notes will be admitted to the official list and to trading on the regulated market of the Luxembourg Stock Exchange.

BNP Paribas, Citigroup, J.P. Morgan, Morgan Stanley and Natixis acted as Joint Lead Managers. National Bank of Abu Dhabi and the National Bank of Egypt acted as Co-Lead Managers. Dechert LLP acted as counsel to the Republic and Latham & Watkins LLP acted as counsel to the Joint Lead Managers.