- Ministry of Finance also plans to issue eco-friendly "Green Bonds", and for the first time international bonds denominated in one of the Asian currencies.
Ministry of Finance has put in tender three bids to select legal counsels (international and local) and bank groups (lead managers). Respective requests for proposal were sent to major international and local law firms, and investment banks to select the best technical offers. 36 technical and financial offers were received by the Ministry.
Last January 27th, 2019, Ministry of Finance selected one local legal counsel and one international legal counsel to act as its representative in all international issuances over FY 2018/19. Two groups of 4 international investment banks each were also selected to act as joint lead issuers for the dollar denominated international bonds and for the euro-denominated issuance, as follows:
· Al-Tamimi & Co. Law Firm – local legal counsel
· Dechert – international legal counsel
· International Investment Banks for managing dollar-denominated issuance: Citi Bank- JP Morgan- HSBC- Goldman Sachs.
· International Investment Banks for managing euro-denominated issuance: BNP Paribas- Natixis- Alex Bank "San Paolo"- Standard Chartered
· National Bank of Egypt and Banque Misr will be contacted for their assistance in both issuances.