Eurobond roadshow continues today with meetings in Frankfurt, Munich and Milan
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.