Egypt sets price guidance for debut euro-denominated bond

10 Apr 2018

Egypt has set the price guidance of its debut euro-denominated bond sale in the 5 percent area for a planned eight-year tranche and in the 5.875 percent area for a 12-year tranche, a document from one of the banks arranging the offering showed on Monday.

Initial price guidance earlier on Monday was in the low 5 percent area for the eight-year and in the 6 percent area for the 12-year tranche.

Combined orders for the transaction were in excess of 4.7 billion euro, evenly split across the two maturities on offer, according to the document.

Egypt, rated B3 by Moody’s, B-(minus) by S&P and B by Fitch, has mandated Banca IMI, BNP Paribas, Deutsche Bank, and Standard Chartered Bank to arrange the transaction.

arabfinance

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