Tuesday , October 19 2021

The successful issuance of international debts in dollars in two new installments


The Arab Republic of Egypt, represented by the Ministry of Finance, was able to re-issue the issue on international bonds issued as a special offer for the Central Bank of Egypt on November 10, 2016, # 39; issuance of two new tranches with maturities of eight and twelve years from 2026 and 2030.

HSBC acted as liquidation manager and its location was completed on November 19, 2018. The CBE exchanged the problem with a group of large investment banks with Reverse Banks, and the services of legal consultants.

It should be noted that the issue of the two new tranches was published with a good return rate despite the volatility of the international financial markets in recent times, which negatively affected many indicators of American, European and Asian markets L & Egypt's success in this step confirms the confidence of foreign investors in the Egyptian economy, Moody's prospects for the 2018 August improved steadily to positive and the report of the International Monetary Fund (IMF) praised the steps taken so far in the economic reform program to achieve its desired goals of sustainable development.

In addition to the Standard & Poor's report this month and his confirmation of his May launch of the B-to-B qualification in Egypt and the ability to Egypt for Continue improving their economy, increase their growth rate and reduce their debt. "

The proposal is part of the implementation mechanisms of the Ministry of Finance's strategy to diversify the sources of financing and convert the debt in the short and long term through the issuance of financial instruments in the long term to reduce the burden of maintaining public debt and reduce the risk of "Passenger Risk" and take advantage of low interest rates compared to current market rates. To meet the government's financing needs for L & # Current fiscal year and meet its obligations at the lowest possible cost in the medium and long term.

The Ministry of Finance reached an agreement with the Central Bank of Egypt to transfer the foreign currency from the issuance of Egyptian royalties and add the value to the unified treasury account with the Central Bank of Egypt.

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