Egypt’s borrowing costs have fallen significantly since talks with the IMF were announced, Bloomberg reported. The government announced on Thursday that it had picked JPMorgan Chase, Citigroup, BNP Paribas, and Natixis to oversee the sale of USD 3-5 bn in in eurobonds in 2016, with the first issuance planned for October. Alan Cameron, a London-based economist covering frontier markets at Exotix Partners, expects Egypt to pay 6-7% to sell 10-year bonds, higher than the 5.875% paid on eurobonds issued in 2015, but lower than the highs the 2015 issuance was trading at in 1H2016. The Finance Ministry has tapped the law firm of Matouk Bassiouny to act as domestic legal consultant for the issuance, Al Borsa reported. Seven firms bid on the project, of which three technical bids were accepted including Helmy, Hamza & Partners, Matouk Bassiouny, and Zaki Hashem & Partners.