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Costs of future government borrowing bogged down by uncertainty

Return rates on government debt tools have been steadily increasing since former president Mohamed Morsi’s constitutional declaration on 22 November 2012, a fact which has been compounded by repeated credit downgrades seen since the outbreak of the January 25th revolution by international rating agencies.

Daily News Egypt

Egypt to offer LE 2.5 bln in reopened bonds

By Mohamed Samir / Reuters CAIRO: Egypt’s Ministry of Finance will offer LE 2.5 billion ($414.1 million) in reopened bonds at an auction on April 23, the central bank said on Tuesday. It will offer LE 1.5 billion in reopened five-year bonds maturing on April 10, 2017 with a coupon of 16.55 percent, and LE …

DNE

Egypt sells 3- and 5-year bonds worth LE 3.5 bln

By Reuters CAIRO: Egypt’s central bank said it sold LE 3.5 billion ($579.8 million) in three and five-year bonds on Monday, the same amount it had offered. It sold LE 2 billion in reopened three-year bonds at an average yield of 16.12 percent, with yields ranging from 16.05 to 16.15 percent. The bonds have a …

DNE

Egypt investors shift to longer-term debt: analysts

By Tom Pfeiffer and Patrick Werr / Reuters CAIRO: Growing local appetite for medium-term Egyptian government debt helped push the average yield on three-year bonds lower at an auction on Monday and market watchers said investors were shifting some funds from short-term tenors. Egyptian treasury yields have soared in the past year as foreign investors fled …

DNE

Egypt to offer LE 3.5 bln in bonds

By Mohamed Samir / Reuters CAIRO: Egypt’s Ministry of Finance will offer LE 3.5 billion ($579.6 million) in bonds at an auction on April 9, the central bank said on Monday. It will offer LE 2 billion in reopened three-year bonds maturing on April 3, 2015 with a coupon of 16.15 percent, and LE 1.5 billion …

DNE

Egypt sells 3- 7- and 10-year bonds worth LE 4 bln

By Reuters CAIRO: Egypt’s central bank sold three-year, seven-year and ten-year bonds worth LE 4 billion ($662.4 million) on Monday, the same amount that was offered, the Ministry of Finance said. The three-year bonds, totaling LE 2 billion, mature on April 3, 2015, and have a coupon of 16.15 percent. Yields ranged from 16.10 to …

DNE

Egypt to offer LE 4 bln in bonds

By Mohamed Samir / Reuters CAIRO: Egypt’s finance ministry will offer LE 4 billion ($662.66 million) in new bonds at an auction on April 2, the central bank said on Wednesday . It will offer LE 2 billion in three-year bonds maturing on April 3, 2015, LE 1 billion in seven-year bonds maturing on April 3, …

DNE

Yields dip at Egypt bond auction as confidence grows

By Tom Pfeiffer / Reuters CAIRO: Yields edged lower at a sale of Egyptian treasury bonds on Monday, and traders said banks had demanded more than the amount offered due to growing confidence in the country’s democratic transition. Yields have eased at recent auctions although they remain near multi-year highs partly due to the absence of …

DNE

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