Egypt Sells Five-Year Treasury Bonds Worth EGP 3.5 Billion With 17.65% InterestSource: www.export-egypt.comaa 9/5/2018, Location: Africa |
|
|
|
|
|
The Securities Listing Committee held a meeting to reopen trading on five-year treasury bonds that will mature on 3 July 2023, according to a statement by the Egyptian stock exchange.
The reopened trading resulted in an increase in the value of the issuance by EGP 3.5 billion to reach EGP 14.8 billion distributed over 14,825,310 bonds with a face value of EGP 1000 per bond. The five-year treasury bonds trade with a fixed rate of return of 17.65%, payable every six months on 3 January and 3 July of each year during the active period of the bonds, the statement said. the Finance Ministry announced the cancellation of three-year and seven-year treasury bonds worth EGP 3.5 billion after banks and investors asked for "unrealistic" returns that doesn't reflect the economic improvement Egypt has been witnessing. Egypt aims to reach an average interest rate on government debt in the current 2018-2019 fiscal year to about 14.7 percent compared to 18.5 percent in the previous fiscal year 2017-2018, which ended on 30 June 2018, according to Reuters. Egypt's required funding in the 2018-2019 budget amounts to EGP 714 billion, of which EGP 511 billion comes from domestic debt instruments and the rest from external financing through bond issuance and the IMF loan, Reuters said. Speaking at the Euromoney conference in Cairo, Maait said that the government had not set a date yet for the issuance of Euro bonds, or the size of the expected offering. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 9/19/2024 - Egypt is having a special participation at the IFTM-Top Resa exhibition, which lasts until Sept.19 in Paris.
Egypt’s pavilion has more than... |
Egypt >> 9/18/2024 - On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's ...
|
|
Egypt >> 9/18/2024 - On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's ...
|
Egypt >> 9/18/2024 - Benchmark index EGX 30 was up 0.61 percent to 30,342.46 points, with the Shariah index climbing by 0.20 percent to reach 2,879.64 points.
E... |
|
Egypt >> 9/18/2024 - The British company Globeleq is set to collaborate with the Egyptian government in establishing a substantial project for green hydrogen production, a...
|
Egypt >> 9/18/2024 - Deputy Prime Minister and Minister of Health and Population Khaled Abdel Ghaffar asserted the importance of cooperating with South Africa in the field...
|
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | |
