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Finance Ministry to float T-bonds, bills worth EGP 181.5bn by January, EGP 146bn by February, EGP 146.25bn by March
High Federal Reserve’s interest rate raises cost of converting maturity of Egyptian debt to medium, long, says Omar
T-bonds worth EGP 15bn due in December, remaining balances due between February 2019, November 2028
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
“We maintain our view of a stable interest rates environment in till the end of 2018”: Mamdouh
Bonds bear maturity of 364 days, due on 12 November 2019
T-Bills of 91-364 days balances score EGP 1.305tn, mostly of 357, 364 days: CBE
The CBE sold EGP 750m pounds worth of three-year bonds, as well as EGP 153m worth of seven-year bonds, well under the EGP 500m it was targeting.
Earlier in September, the CBE called off the auction of three and seven-year treasury bonds worth EGP 3.5bn. Additionally, the other two previous T-bond auctions, which were also for EGP 3.5bn each, had been cancelled after bankers and investors demanded high yields on the debt.
State to pay $18bn, €2bn between December 2018, February 2048
Other bonds worth $18bn have been put on world markets, due from 10 December 2018 to 21 February 2048
EFG Hermes has ruled out any significant decline in foreign investors’ appetite for Egyptian treasury bonds (T-bonds) if the Central Bank of Egypt (CBE) continues its policy of cutting interest rates. EFG Hermes Managing Director and Head of Research Ahmed Shams El Din announced that the total sales of Egyptian treasury bills (T-bills) to foreigners …
Egyptian banks considered biggest investors in bonds, T-bills
Banks are considered the biggest investors in bonds and treasury bills, which the government issues on a regular basis to cover the state budget deficit
The size of outstanding balances of treasury bonds (T-bonds) owed by the government by the end of June 2017 declined by EGP 5.618bn to reach EGP 677.459bn, down from EGP 683.078bn in May 2017, according to the Ministry of Finance. A recent report issued by the Ministry of Finance details two types of bonds in …