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Outstanding balance of local T-bonds fall by EGP 8bn at November-end: Finance Ministry - Daily News Egypt

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Outstanding balance of local T-bonds fall by EGP 8bn at November-end: Finance Ministry

T-bonds worth EGP 15bn due in December, remaining balances due between February 2019, November 2028


The Ministry of Finance revealed that the outstanding balance of treasury bonds (T-bonds) fell by EGP 8bn at the end of November 2018 to a total of EGP 686.366bn, from EGP 693.864bn at the end of October 2018.

In a recent report, the ministry said that T-bonds worth EGP 15bn are due in December, while the remaining balance will be due between 25 February 2019, and 6 November 2028.

The ministry added that these bonds were floated between 18 January 2005 and 6 November 2018, bearing an interest rate of 11.40-18.75%, with an average of 15.015%.

Aside from the local currency bonds, there is an additional $20.57bn worth of international bonds in global markets.

These bonds have maturity periods of 1-30 years, due to be repaid between 10 December 2018 and 21 February 2048, with an interest rate between 4.622% and 8.5%, and an average interest rate of 6.726%.

According to the report, bonds worth $1.36bn were due to be paid on 10 December 2018, but nothing has been announced yet.

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

Moreover, another €2bn worth of bonds were offered by the ministry of finance on 16 April 2018, distributed over two tranches, the first of the €1bn was at a 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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https://wwww.dailynewssegypt.com/2018/12/19/outstanding-balance-of-local-t-bonds-fall-by-egp-8bn-at-november-end-finance-ministry/
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