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Egypt to increase a maximum of €2 bln with planned bond

Egypt will raise up to €2 billion with its planned dual-tranche bond, which is expected to price later on Monday, a document from one of the banks arranging the debt offering showed.

The debt sale- Egypt’s first public bond denominated in euro- received orders in excess of €7.2 billion, split evenly across the proposed eight-year and 12-year tranches.

Final price guidance for the bonds was set at 4.75-4.875 percent for the eight-year paper, and at 5.625-5.75 percent for the 12-year, with the notes expected to price within those ranges. Source: Reuters

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