New Issue: Egypt prices $4 billion of notes due in five, 10, 30 years

By Christine Van Dusen

Atlanta, Jan. 24 – Egypt priced a $4 billion three-tranche issue of notes due 2022, 2027 and 2047 (expected ratings: B3//B) on Tuesday, a market source said.

A $1.75 billion tranche of five-year notes priced at par to yield 6 1/8%, following talk of 6 3/8% to 6 5/8%.

The $1 billion 10-year notes priced at par to yield 7˝%, following talk of 7 5/8% to 7 7/8%.

And the $1.25 billion 30-year notes priced at par to yield 8˝%, following talk of 8 5/8% to 8 7/8%.

BNP Paribas, JPMorgan and Natixis Securities were the bookrunners for the Rule 144A and Regulation S deal.

Issuer:	Egypt
Amount:	$4 billion
Description:	Notes
Bookrunners:	BNP Paribas, JPMorgan, Natixis Securities
Trade date:	Jan. 24
Settlement date:	Jan. 31
Expected ratings:	Moody’s: B3
	Fitch: B
Distribution:	Rule 144A and Regulation S
Five-year notes
Amount:	$1.75 billion
Maturity:	Jan. 31, 2022
Coupon:	6 1/8%
Price:	Par
Yield:	6 1/8%
Price talk:	6 3/8% to 6 5/8%
10-year notes
Amount:	$1 billion
Maturity:	Jan. 31, 2027
Coupon:	7˝%
Price:	Par
Yield:	7˝%
Price talk:	7 5/8% to 7 7/8%
30-year notes
Amount:	$1.25 billion
Maturity:	Jan. 31, 2047
Coupon:	8˝%
Price:	Par
Yield:	8˝%
Price talk:	8 5/8% to 8 7/8%

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