DUBAI: Egypt has chosen banks to handle its return to the international bond market after a gap of five years, underlining a return of economic and political stability in the country after its Arab Spring uprising of 2011.

Investor meetings to discuss a US dollar sovereign bond issue will be held in the UAE, London and the US between Thursday and June 3, a document from lead arranging banks showed on Tuesday.

The document did not specify the size or maturity of the bond, but the finance ministry had previously said it intended to issue $1.5 billion of Eurobonds.

BNP Paribas, Citigroup, JP Morgan, Morgan Stanley and Natixis will arrange the investor meetings for Egypt, which is rated B3/B-/B by the main international credit rating agencies.

Economic growth has begun to pick up and shaky state finances to strengthen since President Abdel Fattah El-Sissi took office last year, overseeing the installation of a technocratic cabinet that is starting to reform the economy, and forging an alliance with Gulf states to obtain aid and investment.