Egypt heralds marketing triple-tranche US dollar bond deal

Big 5

Egypt has started marketing a triple-tranche US dollar benchmark bond deal, according to a lead.

Initial price thoughts for a five-year tranche are at 6.375-6.625%. A 10-year tranche is being marketed at 7.625-7.875% and a 30-year tranche is being marketed at 8.625-8.875%.

The 144A/Reg S offering is being run by BNP Paribas, Citigroup, JP Morgan and Natixis.

The sovereign is rated B3/B (Moody’s/Fitch).

Source: Reuters

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