Daily News Egypt

Egypt's international bonds rise to $16.64bn - Daily News Egypt

Advertising Area




Advertising Area




Egypt’s international bonds rise to $16.64bn

Bonds are maturities ranging from 1-30 years, due in period from April 2020 to February 2048


Egypt’s stock of international bonds rose to $16.64bn after the Ministry of Finance succeeded in issuing new bonds on Tuesday worth $4bn.

According to a report obtained by Daily News Egypt, the terms of those bonds range from one to 30 years, and are repayable between April 2020 and February 2048.

In January 2017, the Finance Ministry succeeded in promoting three bond issues worth $4bn.

The first tranche of these bonds was issued at $1.750bn with an interest of 6.125%, due on 31 January 2022, and the second tranche of $1bn with an interest of 7.5%, due on 31 January 2027, and the third tranche of $1.25bn, due on 31 January 2047.

On 10 November 2016, the Finance Ministry raised three bond issues worth $4bn in a London Stock Exchange offering.

The first tranche of these bonds was issued at a value of $1.360bn with an interest of 4.62%, due 10 December 2017, the second tranche of $1.32bn with an interest of 6.75%, due on 10 November 2024, and the third tranche of $1.32bn with a yield of 7% due on 10 November 2028.

In addition to these bonds, there are four issues of other bonds on international markets, including a $1bn issuance in April 2010 with an interest of 5.75% and due on 29 April 2020, and another issuance of $500m issued on 29 April 2010 with a return of 6.875% and due in April 2040.

The Finance Ministry also issued another issuance worth $1.5bn, which was launched on 11 June 2015 with a return of 5.875% and is due on 11 June 2025.

The Egyptian government stopped issuing international bonds since June 2012, and decided in January 2015 to resume issuing them.

Advertising Area



https://dailyfeed.dailynewsegypt.com/2018/02/14/egypts-international-bonds-rise-16-64bn/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe