(Bloomberg) -- Egypt will issue its second dollar-denominated bonds of this year on Thursday, taking advantage of low borrowing costs before the U.S. Federal Reserve decides when to taper monetary stimulus.

The issuance includes 6-year notes at an initial yield of 6.125% as well as 12-year and 30-year bonds targeting yields of 7.625% and 8.875% respectively, according to a person familiar with the matter who asked not to be identified as they are not authorized to speak publicly. 

The government hired banks including JPMorgan Chase & Co., Citigroup Inc., HSBC Holdings Plc and First Abu Dhabi Bank to manage the transaction, and aims to raise $2.5 billion to $3 billion, two people familiar with the matter said.

Egypt tapped international markets for $3.8 billion in dollar-denominated bonds earlier this year. It sold $750 million in green bonds last year. The country’s external financing needs for the fiscal year ending in June range between $5 billion and $7 billion, according to EFG Hermes.

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