Egypt will repay $1.36bn worth of international bonds on 10 December out of the total issued bonds on international markets of $18bn and others worth €2bn, according to the ministry of finance.
These bonds were issued on 10 November 2016. The bonds’ coupon interest rate reached 4.62%, the ministry explained in a report.
Egypt’s balance of issued dollar-denominated bonds on international markets increased to $18bn at the end of February 2018, with maturities ranging from one year to 30 years, starting from 10 December 2018 to 21 February 2048.
According to the report, the bonds’ interest rates vary from 4.622% to 8.5%, with an average of 6.726%.
Other bonds worth €2bn were also issued by the ministry on 16 April 2018 over two tranches. The first was €1bn with a 4.75% yield and are due in April 2026. The second tranche had the same value with 5.625% yield and are due in April 2030.
On 21 February 2018, the ministry issued bonds worth $3bn, including bonds of $1.25bn with a maturity of five years and are due on 21 February 2023. Other bonds worth $1.25bn were issued with a maturity of 10 years and are due on 21 February 2028, in addition to $1.5bn worth bonds with a maturity of 30 years and due on 21 February 2048.
In January 2018, the ministry managed to attract $4bn in investments through three bond issuances on international markets.
The first tranche of these bonds was issued at a value of $1.750bn with a yield of 6.125% and are due on 31 January 2022. The second tranche was worth $1bn with a yield of 7.5% and are due on 31 January 2027. The third tranche was $1.25bn with a yield of 8.5% and are due on 31 January 2047.
On 29 May 2017, the government issued more bonds worth $1bn with a yield of 7.5% and mature on 31 January 2027. More bonds were issued on the same day worth $750m with an interest rate of 6.125% for a seven-year maturity and are due on 31 January 2022.
The third tranche was issued for $1.25bn with an interest rate of 8.5% for 30-year maturity and due on 31 January 2047.
On 10 November 2016, three issuances of bonds were made worth $4bn at London Stock Exchange.
The first tranche of these bonds was issued for $1.360bn with a yield of 4.62% and is due on 10 December 2018. The second tranche is worth $1.32bn was issued with a yield of 6.75% and is due on 10 November 2024, while the third was worth $1.32bn with a yield of 7% and is due on 10 November 2028.
The finance ministry made another issuance for $1.25bn on 11 June 2015 with a yield of 5.875% and is due on 11 June 2025.
Moreover, a bond issuance worth $1bn was launched on 29 April 2010 with a yield of 5.75% and is due on 29 April 2020, and another issuance worth $500m was launched on 29 April 2010 with a yield of 6.875% and is due on 29 April 2040.