New Issue: Egypt sells $1.5 billion 10-, 30-year notes via HSBC, Morgan Stanley

By Christine Van Dusen

Atlanta, April 23 - Egypt priced a two-tranche offering of notes totaling $1.5 billion (Ba1/BB+BB+) on Wednesday, according to a market source.

The issue included $1 billion notes due April 29, 2020 to yield 5¾%, or Treasuries plus 199.7 basis points, and $500 million notes due April 30, 2040 to yield 6.95%, or Treasuries plus 232.8 bps.

HSBC and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S offering.

Issuer:	Egypt
Amount:	$1.5 billion
Bookrunners:	HSBC, Morgan Stanley
Trade date:	April 22
Settlement date:	April 29
Ratings:	Moody's: Ba1
	Standard & Poor's: BB+
	Fitch: BB+
Distribution:	Rule 144A/Regulation S
10-year notes
Amount:	$1 billion
Maturity:	April 29, 2020
Yield:	5¾%
Spread:	Treasuries plus 199.7 bps
30-year notes
Amount:	$500 million
Maturity:	April 30, 2040
Yield:	6.95%
Spread:	Treasuries plus 232.8 bps

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