Documents show that Egypt will auction $3bn-$4bn in denominated bonds in three tranches with maturities of four, 12 and 30 years, Reuters news agency reports.

The documents, issued by one of the banks leading the process, revealed that an initial indicative price for the four-year tranche stands at about 6.25%. The initial indicative price for the 12-year bonds stands at about 8.125%, and 9.375% for the 30-year bonds.

BNP Paribas, Citibank, HSBC, and Standard Chartered have been appointed to arrange the operation, which is expected to be closed later on Thursday.