Egypt’s stock of international bonds rose to $18bn at the end of February 2018, according to a report by the Ministry of Finance obtained by Daily News Egypt.
According to the report, the terms of those bonds range from one to 30 years and are repayable between 10 December 2018 and 21 February 2048. The interest on these bonds ranges between 4.622% and 8.5%, with an average of 6.726%.
According to the report, bonds worth $4bn were offered on 21 February 2018, including a $1.25bn part maturing in five years and due on 21 February 2023, a part worth $1.25bn for 10 years due on 21 February 2028, and another part worth $1.5bn for 30 years due on 21 February 2048.
In January 2018, the Finance Ministry succeeded in promoting three bond issuances worth $4bn.
The first tranche of these bonds, worth $1.750bn, was issued with an interest of 6.125% and is due on 31 January 2022, and the second tranche of $1bn, with an interest of 7.5%, is due on 31 January 2027, while the third tranche of $1.25bn is due on 31 January 2047.
On 29 May 2017, the government had offered another set of bonds worth $1bn with an interest of 7.5% for 10 years, due on 31 January 2027. The Ministry of Finance also offered another bonds package worth $750m with an interest of 6.125% for seven years, due on 31 January 2022, and another tranche of $1.25bn with an interest of 8.5%, due on 31 January 2047.
On 10 November 2016, the Finance Ministry raised $4bn in a London Stock Exchange bond offering.
The first tranche of these bonds was issued at a value of $1.36bn with an interest of 4.62%, due on 10 December 2017. The second tranche of $1.32bn, with an interest of 6.75%, is due on 10 November 2024. The third tranche of $1.32bn, with a yield of 7%, is due on 10 November 2028.
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.
In addition to these bonds, there are four issuances of other bonds on international markets, including a $1bn issuance in April 2010, with an interest of 5.75%, due on 29 April 2020, and another issuance of $500m issued on 29 April 2010, with a return of 6.875%, due in April 2040.