Egypt's external bond portfolio reaches $33.96B by end of 2023

CAIRO - 4 February 2024: The Ministry of Finance has disclosed the volume of outstanding balances from Egypt's external bonds until the end of 2023.

 

According to a recent report on the ministry's official website, there are USD-denominated bonds with a value of approximately $33.96 billion, issued from June 11, 2015, to February 28, 2023. These bonds mature between March 1, 2024, and February 16, 2061, with interest rates ranging from 3.875 percent to 10.875 percent, averaging at 7.386 percent.

 

These balances include sukuk worth $1.5 billion for a three-year term, maturing on February 28, 2026, with a yield of 10.875 percent, alongside green bonds worth $750 million for a five-year term, due on October 6, 2025, with a yield of 5.25 percent.

 

According to the Ministry of Finance, there are also bonds valued at €4 billion, issued from April 16, 2018, to April 11, 2019, maturing between April 11, 2025, and April 11, 2031. The yield on these bonds ranges from 4.75 percent to 6.375 percent, with an average of 5.477 percent.

 

In addition, there are bonds denominated in Japanese yen, amounting to around ¥60 billion (equivalent to $500 million), issued on March 31, 2022, for a five-year term, maturing on March 31, 2027, with a yield of 0.85 percent. There are also bonds denominated in Chinese yuan, totaling approximately ¥3.5 billion (equivalent to $500 million), issued on October 16, 2023, for a three-year term, maturing on October 16, 2026, with a yield of 3.510 percent.

 

Egypt successfully launched its second issuance of samurai bonds in November, with a value of ¥75 billion (Approximately $500 million) for a five-year term with an annual yield of 1.5 percent.