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Egypt’s outstanding dollar, euro bonds increase to $23.2bn, €2bn respectively - Daily News Egypt

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Egypt’s outstanding dollar, euro bonds increase to $23.2bn, €2bn respectively

Maturities of dollar bonds range between 5-30 years, euro bonds between 8-12 years


Egypt’s outstanding dollar and euro-denominated bonds reached $23.2bn and €2bn respectively so far on international markets.

The maturities of the dollar bonds ranged between five and 30 years, and between eight and 12 years for euro bonds.

Before the last bond issuance, Egypt’s total dollar and euro bonds recorded $19.2bn and €2bn respectively at the end of December 2018, after the Ministry of Finance repaid $1.36bn worth of international bonds on 10 December.

The Ministry of Finance has offered two international bond issuances of $2.57bn on 19 November 2018.

The first bond issuance recorded $860m with eight-year maturity that is due on 10 November 2026 with an interest of 7.125%, according to the Ministry of Finance.

The second issuance was worth $1.71bn and will mature in 12 years, due to be repaid on 10 November 2030. These bonds have an interest rate of 7.625%.

Last year, the Ministry of Finance offered T-Bonds worth $3bn on 21 February 2018, including $1.25bn with five-year maturity that is due on 21 November 2023.

There are also bonds worth $1.25bn for 10 years that due on 21 February 2028, in addition to another set of $1.5bn for 30 years that is due on 21 February 2048.

Furthermore, the Ministry of Finance succeeded in January 2018 in offering three sets of bonds which attracted $4bn.

The first set of these bonds was issued at $1.750bn with a yield of 6.125% maturing on 31 January 2022, the second set of $1bn with a yield of 7.5% maturing on 31 January 2027, and the third set of $1.25bn maturing on 31 January 2047.

On 29 May 2017, the Ministry of Finance issued bonds worth $1bn bond with a yield of 7.5% for 10 years maturing on 31 January 2027. On the same date, the ministry offered $750m worth bonds at an interest rate of 6.125% for a 7-year maturity that will be due on 31 January 2022. A third set was offered with a value of $1.25bn at an interest rate of 8.5% for 30 years that will be due on 31 January 2047.

Egypt returned strongly to the international bonds market on 10 November 2016, as the Ministry of Finance launched at the time three issuances of bonds worth $4bn in a special London Stock Exchange issuance.

The first tranche of these issued bonds was worth $1.36bn with a yield of 4.62% maturing on 10 December 2018. The second set worth $1.32bn with 6.75% yield maturing on 10 November 2024. The third set was worth $1.32bn with a yield of 7% maturing on 10 November 2028.

Prior to this, the Ministry of Finance made an issuance worth $1.5bn on 11 June 2015, with 5.875% yield maturing on 11 June 2025.

In addition to these bonds, there are issuances of several bonds on international markets, including an issuance worth $1bn offered on 29 April 2010 with 5.75% yield that will be due on 29 April 2020, in addition to another issuance worth $500m offered on 29 April 2010 with 6.875% yield maturing on 20 April 2040.

There are other bonds that were launched on 16 April 2018 by the Ministry of Finance, worth €2bn on two sets, the first was worth €1bn with 4.75% yield maturing on 16 April 2026, the second set was worth the same value with 5.625% yield maturing on 16 April 2030.

Topics: bonds dollar euro

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