Tuesday , August 16 2022

The Ministry of Finance has re-issued international bonds in two new tranches


Here are the details

On behalf of the Ministry of Finance of the Republic of Egypt on November 10, 2016, the Egyptian Central Bank resumed the issue of international bonds issued as a special offer for the issuance of two new installments with a maturity of 8 years and 12 years, 2026 and 2030.

HSBC acted as a Settlement Manager and the Offer was completed on November 19, 2018. The Central Bank of Egypt has exchanged the issue with a group of large investment banks with "Reverse Repo Banks" to complete all legitimate procedures for the Local Authority "Al Sheeshova and Sarkhan", an international legal adviser to Dechert.

Recently, despite the volatility of the international financial markets, the issuance of two new tranches was at a good refund rate that had a negative impact on many American, European, and Asian markets. Egypt's success at this step confirms the confidence of a foreign investor to the Egyptian economy, Moody's August 2018 from the stability to the right and the IMF's achievement of sustainable economic development goals, the economic reform program Welcoming the steps taken by the month, the REER of the Standard & Poor credit rating of Egypt and B- B infections and to improve its economy and raise growth and debt reduction for Egypt's ability to continue to increase in May last year confirmed what. "

This proposal is part of the Finance Ministry's strategy to diversify funding sources and short-term long-term loans to reduce the burden of servicing public debt and introduce a strategy for reducing the risk of transformation through long-term financial instruments. The local market covers the need for the government's anticipated funding for the current fiscal year, and reimbursement of its obligations in the medium and long-term possible minimal.

The Ministry of Finance has concluded an agreement with the Egyptian Central Bank to exclude foreign currency from the Egyptian pound and adds value to a treasury bill associated with the Central Bank of Egypt.

On November 10, 2016, the Ministry of Finance successfully completed issue of bonds worth $ 4 billion on the Irish Stock Exchange, with a special offer for the Central Bank of Egypt amounting to $ 1,360 million at an annual profit of 4,62% ​​on December 10, 2017. The annual yield of 10 November 2028 is 6,75% and $ 1,320 million in annual yields of 7% on November 10, 2028.

We thank you, Arabs today for the opportunity to review our web site, if you have any questions about this news, the Ministry of Finance can re-issue international bonds in two new tranches.
Source: Day 7

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