Egypt markets 3-tranche dollar bonds

Cairo – Mubasher: Egypt started marketing US dollar-denominated bonds in three tranches with maturities of four, 12, and 30 years, Reuters reported on Thursday, citing a document from one of the banks leading the deal.

The most populous Arab nation gave initial price guidance at about 6.25%, 8.125%, and 9.375% for the four-, 12- and 30-year bonds, respectively, the document showed.

BNP Paribas, Citi, HSBC, JPMorgan and Standard Chartered have been appointed to arrange the deal, forecast to close later on Thursday.

Sources familiar with the matter told the international news agency that Egypt is expected to sell from $3 billion to $4 billion worth of bonds.

Earlier, the finance ministry revealed a possibility of accepting less bids for treasury bills and bonds denominated in the Egyptian pound until the end of fiscal year 2019/2020 after securing a $2.7 billion loan from the International Monetary Fund (IMF).

Mubasher Contribution Time: 21-May-2020 11:09 (GMT)
Mubasher Last Update Time: 21-May-2020 11:09 (GMT)