Egypt sets price guidance for Eurobond sale, sees lower yields

Egypt expects to price its expected $1.5-$2 billion sale of reopened Eurobonds on Wednesday at lower yields than when it first sold the debt in January, according to Thomson Reuters news and market analysis service IFR.

IFR said price guidance for the five-year bond was 5.50 percent compared with 6.125 percent in January, with the 10-year bond at 6.75 percent from 7.50 percent and the 30-year bond at 8.05 percent from 8.50 percent.

IFR said the total order book for the bonds was $5.2 billion with a skew toward the longer maturity debt.