Egypt, represented by the Ministry of Finance, has completed issuing international bonds worth $ 3.75 billion in three tranches 5 10 40 years with issued values ​​of $ 750 million, 1.5 1 billion and 1.5 billion dollars respectively.

The Ministry of Finance said in a statement today, Tuesday, that the offering has witnessed strong and increasing purchase orders for foreign investors from all regions and countries, as the volume of subscription requests by foreign investors has reached To $ 16.5 billion during the offering, before the banks promoting the offering, in accordance with the instructions of the Ministry of Finance, announced the reduction of the indicative returns prices announced on the bonds at the beginning of the offering, as a result of strong purchase orders from a large number of major international investors in international bonds. >

she added, that the offering witnessed the issuance of bonds and the achievement of very good interest rates, much lower than the prices achieved during the past years, noting that the rate of return achieved on bonds with a term For a period of five years and for a period of 40 years, they are considered the lowest since the beginning of Egypt's issuance of its international bonds.

The Minister of Finance, Mohamed Maait, said that the great and increasing demand for Egyptian international bonds, which reached about $ 16.5 billion before the end of the offering, represents a coverage ratio of up to 4.4 times the value of the offering of $ 3.75 billion, which contributed to lowering interest rates, to less than what was achieved during previous issuances that took place during the past years, for the three tranches issued with terms of 5 10 40 years.

and Maait added, that the interest rates achieved are significantly and significantly lower than the interest rates recently achieved by many countries with similar credit ratings, and in some cases even countries with The highest credit rating from Egypt, which confirms the increasing investor confidence in the ability and potential of the Egyptian economy, due to the good and continuous results it has achieved over the past years.

In light of this version, which is another success for Egypt in the international financial markets, the Ministry of Finance was able to return to the international bond market in February 2021, to provide part of the financing needs. For the current fiscal year, with a value of $ 3.75 billion.

The Minister of Finance explained that returning to international markets at this time, despite the difficult circumstances and the state of uncertainty that the world is witnessing due to the Corona pandemic, is considered a great success, stressing that the success of The international issuance reflects investor confidence in the ability, capabilities and performance of the Egyptian economy, due to the improvement of all economic and financial indicators of Egypt, which enabled the national economy to withstand and deal with external shocks in a strong and balanced manner.

The minister affirmed that the continued confidence of international markets in the economic and financial policies of the government and tuberculosis ...