April 9, 2018 / 2:39 PM / 3 months ago

Egypt launches EUR2bn dual-tranche bond

LONDON, April 9 (IFR) - The Arab Republic of Egypt has set final terms for a €2bn dual-tranche bond offering, according to a lead.

The sovereign, rated B3/B-/B, has launched €1bn April 2026 notes at 4.75%. Marketing started at low 5% area ahead of guidance at 5% area and then 4.75%-4.875% (will price in range).

The €1bn April 2030 will price at 5.625%. This tranche was originally shown at 6% area, before talk was revised to 5.875% area and then to 5.625%-5.75% (wpir).

Combined books at the last update were over €7.2bn, evenly split.

Banca IMI, BNP Paribas, Deutsche Bank and Standard Chartered are bookrunners. (Reporting by Robert Hogg, editing by Julian Baker)

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