The roadshow for Egypt’s upcoming eurobond issuance continues today with meetings in Frankfurt, Munich, and Milan, according to an emailed statement. Meetings for the debt sale kicked-off yesterday in London and will wrap-up on Friday in Paris. The government has hired BNP Paribas, Banca IMI, Deutsche Bank and Standard Chartered Bank to act as joint bookrunners for the EUR 1-1.5 bn issuance that is reportedly set to take place in three-weeks’ time on the Luxembourg stock exchange, and should offer maturities of eight and/or 12 years. Sources had said last week that officials would make a final decision on whether to take the offering north of EUR 2 bn based on feedback from investor meetings. Zaki Hashem & Partners and Linklater are legal advisors to the investment banks, while Al Tamimi & Co. and Dechert were chosen as legal advisors to the government for the transaction, which will be Egypt’s first-ever EUR-denominated bond sale. The government concluded a USD 4 bn eurobond sale in February.

Tags: