Egypt to hedge 65% of fuel imports next FY
· Egyptian market news
The government is considering a program to hedge 65% of the country’s fuel imports Al Arabiya from January mid-April
Smaller subsidy bill, bigger hedge:
Israel’s Ratio Petroleum is buying UK-listed Pharos Energy in a USD 164 mn allcash takeover disclosure
The transaction comes weeks after Pharos received USD 12.6 mn from the government statement (pdf)
BACKGROUND- 55% stake
EFG Hermes advises Premium’s 11th issuance
Premium International for Financial Services — often known by its sole product Premium Card — raised EGP 239 mn through its 11th securitized bond issuance. press release (pdf )
The 36-month bond is split into two fixed-rate tranches:
Original source: enterpriseam.com