By Mahmoud Salah Eddin
Cairo – Mubasher: Egypt’s government decided to postpone the issuance of dollar-denominated treasury bonds worth $1.5 billion, which was scheduled for this month, as it awaits favorable conditions, said Samy Khallaf, Deputy Minister of Finance and Head of Public Debt Department.
He added that the T-bonds may be offered in the first quarter of 2016 if market conditions improve.
The dollar-denominated bonds sold recently were offered at a yield of 360 basis points above US LIBOR for 10-year period, and now the yield rose 580 basis points, or 2.20%, bringing yield on dollar bonds up from 6% to 8.5% currently, according to the official.
In mid-2015, Egypt issued $1.5 billion worth of T-bonds on Luxemburg bourse, as part of long-term plan to raise $10 billion from bond issuance.
