Markets
Egypt expects to sell around $3 billion in three-tranche bonds
- It tightened price guidance to 4.125% to 4.25% for a five-year tranche, around 6.125% for 10-year bonds and around 7.75% for 40-year notes, the document showed. Demand skewed to the longer tranches.
- It had given initial price guidance of 4.25% to 4.375% for the five-year tranche, around 6.25% for the 10-year bonds and around 7.875% for the 40-year notes.
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DUBAI: Egypt expects to raise around $3 billion via a three-tranche bond sale after it received more than $9 billion in demand, a document from one of the banks on the deal showed on Monday.
It tightened price guidance to 4.125% to 4.25% for a five-year tranche, around 6.125% for 10-year bonds and around 7.75% for 40-year notes, the document showed. Demand skewed to the longer tranches.
It had given initial price guidance of 4.25% to 4.375% for the five-year tranche, around 6.25% for the 10-year bonds and around 7.875% for the 40-year notes.
Citi, First Abu Dhabi Bank, Goldman Sachs International, HSBC, JPMorgan and Standard Chartered are arranging the deal, which is expected to close later on Monday.