Egypt opens book for USD-denominated eurobonds: Egypt marketed its USD-denominated eurobonds to international investors in Luxembourg yesterday, Finance Minister Mohamed Maait told Reuters. “We started in the morning and will continue to receive offers from investors everywhere in the world until late [on Tuesday],” he said, declining to reveal the value or maturity date of the bonds. The domestic press said on Monday that the ministry is issuing USD 5 bn-worth of USD-denominated bonds this week. Egypt opened book on a three-tranche offering made up of 5-year, 10-year, and 30-year bonds. The 5-year bond carried an initial yield of 6.60%, the 10-year 8.00%, and the 30-year 9.10%, Reuters reports. You can check out the prospectus (pdf) for the issuance here.

Advisors: Citigroup, Goldman Sachs, HSBC, and JP Morgan.

Europeans are also cleaning up on sovereign issuances: France, Italy, Belgium, Austria and Spain have all brought to market oversubscribed long-dated bonds of 10-30 years in the past month or so, the most recent of which was a French 30-year offering that found EUR 31 bn in orders for EUR 7 bn of debt, the Financial Times writes. “Investors [are] seeking solid yields while central banks around the world seem committed to keeping rates low,” the paper says.