By Rebecca Melvin
Concord, N.H., Oct. 5 – The Arab Republic of Egypt priced $3 billion of notes in three tranches due 2027, 2033 and 2051 (/B/B+), according to final term sheets filed with the London Stock Exchange on Tuesday.
The tranches, which all priced at par, included $1.125 billion of 5.8% six-year notes, $1.125 billion of 7.3% 12-year notes and $750 million of 8¾% notes due 2051.
The notes were priced under the sovereign’s $40 billion global medium-term note program.
Citigroup Global Markets Ltd., First Abu Dhabi Bank PJSC, HSBC Bank plc, J.P. Morgan Securities plc and Standard Chartered Bank were managers of the Rule 144A and Regulation S offering.
The notes are expected to be admitted to trading on the London Stock Exchange.
| Issuer: | Arab Republic of Egypt
|
| Amount: | $3 billion
|
| Securities: | Senior notes
|
| Bookrunners: | Citigroup Global Markets Ltd., First Abu Dhabi Bank PJSC, HSBC Bank plc, J.P. Morgan Securities plc and Standard Chartered Bank
|
| Issue date: | Sept. 30
|
| Ratings: | S&P: B
|
| Fitch: B+
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Six-year notes
|
| Amount: | $1.125 billion
|
| Maturity: | Sept. 30, 2027
|
| Coupon: | 5.8%
|
| Price: | Par
|
| Yield: | 5.8%
|
|
|
| 12-year notes
|
| Amount: | $1.125 billion
|
| Maturity: | Sept. 30, 2033
|
| Coupon: | 7.3%
|
| Price: | Par
|
| Yield: | 7.3%
|
|
|
| 30-year notes
|
| Amount: | $750 million
|
| Maturity: | Sept. 30, 2051
|
| Coupon: | 8¾%
|
| Price: | Par
|
| Yield: | 8¾%
|
|
|
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