Egypt to sell $3-4 bln dollar bonds with up to 30 years maturity

Egypt is expected to sell between $3 billion and $4 billion in bonds in three tranches on Thursday with maturities of four, 12 and 30 years according to Reuters.

Egypt gave initial price guidance for the four-year tranche at around 6.25 percent, the 12-year bonds around 8.125 percent and the 30-year notes around 9.375 percent, a document from one of the banks leading the deal showed.

The deal comes after the International Monetary Fund said earlier this month that it had approved $2.77 billion in emergency financing for Egypt to weather the pandemic.

Egypt hired BNP Paribas, Citi, HSBC, JPMorgan and Standard Chartered to arrange the debt sale, which is expected to close later on Thursday