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Egypt launches $3 billion triple-tranche bond tap - lead
May 24, 2017 / 1:32 PM / 4 months ago

Egypt launches $3 billion triple-tranche bond tap - lead

DUBAI, May 24 (Reuters) - Egypt has launched a $3 billion triple-tranche bond which taps its $1.75 billion bond maturing in 2022, the $1 billion notes due in 2027 and the $1.25 billion notes due in 2047, a document issued by one of the banks leading the deal showed.

Under a bond tap, an existing transaction is reopened for subscription, using the same documentation as before.

Egypt has launched $750 million notes due in 2022 at 5.45 percent, $1 billion at 6.65 percent and $1.25 billion at 7.95 percent. Books for the deal closed at $11 billion, the document showed.

Reporting by Davide Barbuscia; Editing by Keith Weir

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