Home MoneyBanks Exclusive: NBE’s Investment In Govt and Corporate Bonds Recorded EGP 67 Bln In 2011

Exclusive: NBE’s Investment In Govt and Corporate Bonds Recorded EGP 67 Bln In 2011

by Administrator

Sources at National Bank of Egypt (NBE) said the Bank’s investments in corporate and government bonds were increased to EGP 67 billion; EGP 66.28 billion of government bonds and EGP 528 million are for corporate; most notably of which are Ezz Steel bonds. The total volume of banks’ investments in bonds registered EGP 240 billion at the end of last February, according to Central Bank of Egypt’s report.

Amwal Al Ghad reported exclusively the full details about the bonds in which NBE is investing. Most of the corporate bonds are of Ezz Steel Company due to the Bank in December 2011 with 11.50% interest, in addition to bonds of International Company for Leasing (Incolease), bonds of Contact Securitization Company, bonds of Tameer Securitization Company, the first and second segments of bonds of New Urban Communities Authority, the first, second and third segments of bonds of Al Tawfeek Securitization Company and sixth issue of the first, second and third segments of bonds of Contact Securitization Company. Return on bonds of Ezz Steel and International Company for Leasing are the highest of returns of corporate bonds, registering 11.50% and 11% respectively.

The government’s bonds in which NBE participates are mature in 40 installments; the first was in August 2011 and the last will be in January 2025. Interest rates on government bonds in which NBE participated in covering vary from 6.88% on bonds mature in October 2015 to 11.63% on bonds mature in November 2014.

Amwal Al Ghad was informed that NBE bought government bonds of EGP 1.125 billion which are used to increase the issued capital of the Bank to EGP 5 billion, to be mature in mid-March 2013.

Sources expected the Bank to expand in covering government bonds predicted to be launched in the upcoming period to finance the general budget deficit that registered EGP 140 billion in the current fiscal year.

Sources ruled out that the government will launch in the current period bonds whether Egyptian pounds or US dollar bonds, after international credit rating agencies have lowered Egypt’s rating, reflecting the low demand from international financial institutions on these bonds because of the political turmoil and security lax Egypt has been witnessing since last year’s revolution.

Table showing NBE’s share in Government Treasury Bonds “in million”

Bond

Amount

Bonds numbers

Due Date

Treasury Bonds August2012

2.902.857.000

2.902.857

11/ 8 / 2012

Treasury Bonds September2012

156.852.000

156.852

20/ 9 /2012

Treasury Bonds January2013

380.288.000

380.288

24 / 1 /2013

Treasury Bonds January2013

2.695.072.000

2.695.072

5 / 1/ 2013

Treasury Bonds April2013

3.105.826.000

3.105.826

6 / 4/ 2013

Treasury Bonds July2013

3.624.402.000

3.624.402

6 / 7 /2013

Treasury Bonds July2013

3.140.000.000

3.140.000

26 / 7/ 2013

Treasury Bonds July2013

2.945.356.000

2.945.356

28 /7 / 2013

Treasury Bonds September2013

2.053.650.000

2.053.650

29 / 9 / 2013

Treasury Bonds October 2013

3.464.482.000

3.464.482

5 / 10 / 2013

Treasury Bonds November2013

1.360.092.000

1.360.092

13 / 11/ 2013

Treasury Bonds November2013

530.000.000

530.000

24 / 11 / 2013

Treasury Bonds January2014

207.560.000

207.560

18 / 1 / 2014

Treasury Bonds February2014

912.495.000

912.495

19 / 2/ 2014

Treasury Bonds February2014

1.849.548.000

1.849.548

10 / 2 / 2014

Treasury Bonds April2014

1.554.192.000

1.554.192

14 / 4 / 2014

Treasury Bonds August2014

2.817.731.000

2.817.731

2 / 8 / 2014

Treasury Bonds September2014

150.000.000

150.000

25 / 9 / 2014

Treasury Bonds September2014

2.349.692.000

2.349.692

15 / 9 / 2014

Treasury Bonds October 2014

2.481.669.000

2.481.669

18 / 10 / 2014

Treasury Bonds November2014

606.610.000

606.610

16 / 11/ 2014

Treasury Bonds December2014

2.789.400.000

2.789.400

8 / 12 / 2014

Treasury Bonds January2015

600.000.000

600.000

17 / 1 /2015

Treasury Bonds March2015

1.372.707.000

1.372.707

2 / 3 / 2015

Treasury Bonds May2015

196.780.000

196.780

27 / 5 / 2015

Treasury Bonds July2015

2.822.919.000

2.822.919

20 / 7 / 2015

Treasury Bonds September2015

1.271.811.000

1.271.811

14 / 9 / 2015

Treasury Bonds October 2015

100.000.000

100.000

23 / 10/ 2015

Treasury Bonds November 2015

390.360.000

390.360

15 / 11 / 2015

Treasury Bonds January2016

657.245.000

657.245

22/ 1 / 2016

Treasury Bonds June2016

466.237.000

466.237

10/6/2016

Treasury Bonds June 2016

3.205.500.000

3.205.500

9/6/2016

Treasury Bonds October 2016

2.935.064.000

2.935.064

25/10/2016

Treasury Bonds  January2017

600.000.000

600.000

17/1/2017

Treasury Bonds February2017

5.499.242.000

5.499.242

16/2/2017

Treasury Bonds February2018

301.190.000

301.190

12/2/2018

Treasury Bonds October 2018

354.413.000

354.413

25/10/2018

Treasury Bonds August2020

1.825.123.000

1.825.123

3/8/2020

Treasury Bonds January2025

126.500.000

126.500

18/1/2025

Treasury Bonds Capital Raise

1.250.000.000

13/3/2013

 

Table Showing NBE’s share in Companies bonds “in millions”

Company

Interest (including Tax)

Interest
(Excluding Tax)

Bond Value

Due Date

EZZ Steel

11.50%

11.50%

120000000

30 December2014

Incolease

11%

11%

20051853.87

31 December2013

Contact For Securitization

10.75%

10.75%

66049816.68

30 November2015

Taemeer For Securitization

8.75%

8.75%

22413750

1 May  2017

NUCA
(New Urban Communities)

8.83%

8.83%

76287900

17 June  2015

Al Tawfeeq
I

9%

9%

22605000

27 August2011

Al Tawfeeq
II

10%

10%

100250000

1 July2013

Al Tawfeeq
III

11.25%

11.25%

19047500

1 July2015

Contact For Securitization II

10.25%

10.25%

25472273.6

1 July2013

Contact For Securitization III

10.75%

10.75%

55842624

1 June  2015

 

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