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Outstanding balances of international T-Bonds up to $20.57bn at end of November: Finance Ministry - Daily News Egypt

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Outstanding balances of international T-Bonds up to $20.57bn at end of November: Finance Ministry

2 T-bond tranches worth $2.57bn were floated for 8, 12 years on 19 November bearing interest rates of 7.125%, 7.625% respectively


Egypt’s outstanding balances of treasury bonds (T-Bonds) offered in international markets increased to $20.57bn at the end of November 2018, according to the ministry of finance.

The report issued by the ministry, which Daily News Egypt obtained a copy of, stated that two tranches of T-bonds worth $2.57bn were floated in 19 November 2018.

The first tranche of $860m was floated for a period of eight years and is due on 10 November 2026 bearing an interest of 7.125%.

The second tranche 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%.

According to the report, bonds worth $1.36bn were due to be repaid on 10 December 2018, but have not been announced yet.

The ministry of finance had floated these bonds on 10 November 2016 in a special offering on the London Stock Exchange, one of three tranches offered at the time with an interest rate of 4.62%.

This year, the ministry of finance offered T-bonds worth $3bn on 21 February 2018, including $1.25bn for five years due on 21 November 2023; bonds worth $1.25bn for 10 years due on 21 February 2028, and another set of $1.5bn for 30 years due on 21 February 2048.

Furthermore, the ministry of finance succeeded in January 2018 in offering three tranches which attracted $4bn.

The first tranche of these bonds is worth $1.750bn and had an interest rate of 6.125%, due on 31 January 2022; the second tranche is worth $1bn with an interest rate of 7.5bn and is due on 31 January 2027, while the third tranche was worth $1.25bn with an interest rate of 8.5% to be repaid on 31 January 2047.

On 29 May 2017, the government put forward an offering of $1bn with an interest of 7.5% for 10 years to be repaid on 31 January 2027. At the same time, it also offered a set of bonds worth $750m with an interest of 6.125% for seven years to be repaid on 31 January 2022, in addition to a third set worth $1.25bn with an interest rate of 8.5% for 30 years to be repaid in 31 January 2047.

On 10 November 2016, the ministry of finance offered three tranches worth $4bn in total in a special offering on the London Stock Exchange.

The first tranche of these bonds was issued with a value of $1.360bn with an interest rate of 4.62% due on 10 December 2018; plus a second tranche of $1.3bn with an interest rate of 6.75% due on 10 November 2024, and a third tranche worth $1.32bn with an interest of 7% due on 10 November 2028.

Another offering of $1.5bn was floated on 11 June 2015, with an interest of 5.875%, due for repayment on 11 June 2025.

In addition to these bonds, there are several offerings on the international markets, including $1bn offering floated in 29 April 2010, with an interest of 5.75%, to be repaid on 29 April 2020, as well as another tranche worth $500m, offered on 29 April 2010, with an interest of 6.875%, due on 29 April 2040.

Moreover, another €2bn worth of bonds were offered by the ministry of finance on 16 April 2018 distributed over two tranches; the first of €1bn was at a return rate of 4.75%, due on 16 April 2026, while the second tranche is worth €1bn, bearing an interest rate of 5.625%, due on 16 April 2030.

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