Egypt sets talk for three tranches of notes due 2023, 2032 and 2059

By Rebecca Melvin

New York, Nov. 13 – The Arab Republic of Egypt was talking a triple tranche offering of U.S. dollar-denominated notes (expected ratings: B/B+), which were expected to price later Wednesday, according to a market source.

Initial price talk on the four-year tranche was for a yield of 4.9% to 5%.

The long 12-year note was talked at a yield in the area of 7½%.

And the 40-year notes were seen pricing in the area of 8.6%.

BNP Paribas, Citigroup, JPMorgan, Natixis and Standard Chartered Bank are joint lead managers for the Regulation S and Rule 144A transaction.

The deal size may be $5 billion, according to a market source.

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