Exclusive: NBE’s Investment In Govt and Corporate Bonds Recorded EGP 67 Bln In 2011
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 |
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 |
8.83% |
8.83% |
76287900 |
17 June 2015 |
|
Al Tawfeeq |
9% |
9% |
22605000 |
27 August2011 |
|
Al Tawfeeq |
10% |
10% |
100250000 |
1 July2013 |
|
Al Tawfeeq |
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 |
