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.
