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Egypt starts marketing triple-tranche dollar bonds

Egypt starts marketing triple-tranche dollar bonds

Cairo:  Egypt started marketing a triple-tranche issuance of U.S. cdenominated bonds on Wednesday, a document from one of the banks leading the deal showed.

The country is marketing a tranche due in 2023 with an initial price guidance of 4.9%-5%, and tranches due in 2032 and 2059 at around 7.5% and 8.6%, respectively.

Each tranche will be of benchmark size, which generally means upwards of $500 million. The bonds will be priced later on Wednesday, according to the document. Source: Egypt Today

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