The short version
Egypt has twenty-one foreign-currency bonds covered here: nineteen denominated in US dollars and two in euros. Every one of them is what the market calls a bullet bond. The coupon — the interest rate — is fixed on the day the bond is sold and never changes, and the entire principal is repaid in a single payment on the final maturity date.
It is worth naming what Egypt does not have, because those features are what make other countries' pages complicated. An amortising bond repays its principal in several instalments spread over the last few years of its life, so you cannot read its repayment profile off the maturity date alone. A step-up bond has a coupon that rises on a published schedule, so the rate printed on the bond today is not the rate it will pay later. A restructured bond is one whose terms were rewritten in a negotiation with creditors after the country could not pay as originally promised. The tracker records that Egypt's bonds have none of these: no amortisers, no floating-rate notes, no step-ups, and the country has not restructured. That is why this page can present the bonds as a table rather than bond by bond — they differ only in coupon, maturity and size. Ghana's page, by contrast, has to walk through each bond individually, because Ghana's bonds were restructured and several of them repay in instalments.
The tracker describes Egypt as a large emerging-market issuer, stressed but performing, rated B- by one agency and Caa1 by another, and operating under an IMF programme. Being under strain is not the same thing as having rewritten your bond terms, and the two are easy to conflate. Nothing on this page is a view on whether Egypt will pay; it is a description of what the documents say it has promised.
One other reflex worth resisting. African sovereign bonds are often read as commodity stories, but the tracker is explicit that Egypt is a net energy importer — an economy built on the Suez Canal, tourism and remittances — and it is deliberately not modelled as an oil exporter here.
Adding the twenty-one lines together, the tracker puts Egypt's total amount outstanding at US$26.25bn plus €2.25bn.
The twenty-one bonds
The dollar and euro lines follow different conventions, so they are shown separately. Both sets of conventions are carried as market and programme convention rather than confirmed from a document — see What we are not sure about below.
The nineteen dollar bonds
These pay interest twice a year, on the anniversary of the maturity day and six months either side of it. Interest accrues on a 30E/360 day count, which is the rule for working out how much interest has built up between two dates: it treats every month as thirty days long and every year as three hundred and sixty, rather than counting real calendar days.
| Coupon | ISIN | Maturity | Amount outstanding | First issued |
|---|---|---|---|---|
| 7.500% | XS1558078736 | 31 Jan 2027 | US$2,000m | 31 Jan 2017 (tapped) |
| 5.800% | XS2391394348 | 30 Sep 2027 | US$1,125m | 30 Sep 2021 |
| 6.588% | XS1775618439 | 21 Feb 2028 | US$1,250m | 21 Feb 2018 |
| 7.6003% | XS1953057061 | 1 Mar 2029 | US$2,000m | 26 Feb 2019 (tapped) |
| 8.625% | XS2989586941 | 4 Feb 2030 | US$1,500m | 4 Feb 2025 (reopened) |
| 5.875% | XS2297226545 | 16 Feb 2031 | US$1,500m | 16 Feb 2021 |
| 7.0529% | XS2079842642 | 15 Jan 2032 | US$1,000m | 20 Nov 2019 |
| 7.625% | XS2176897754 | 29 May 2032 | US$1,750m | 29 May 2020 |
| 9.450% | XS2990500766 | 4 Feb 2033 | US$1,250m | 4 Feb 2025 (reopened) |
| 7.300% | XS2391395154 | 30 Sep 2033 | US$1,125m | 30 Sep 2021 |
| 7.625% | XS3305218136 | 20 May 2034 | US$1,000m | 20 May 2026 (social bond) |
| 6.875% | XS0505478684 | 30 Apr 2040 | US$500m | 30 Apr 2010 |
| 8.500% | XS1558078496 | 31 Jan 2047 | US$2,500m | 31 Jan 2017 (tapped) |
| 7.903% | XS1775617464 | 21 Feb 2048 | US$1,500m | 21 Feb 2018 |
| 8.7002% | XS1953057491 | 1 Mar 2049 | US$1,500m | 26 Feb 2019 |
| 8.875% | XS2176899701 | 29 May 2050 | US$2,000m | 29 May 2020 |
| 8.750% | XS2391398174 | 30 Sep 2051 | US$750m | 30 Sep 2021 |
| 8.150% | XS2079846635 | 20 Nov 2059 | US$500m | 20 Nov 2019 |
| 7.500% | XS2297221405 | 16 Feb 2061 | US$1,500m | 16 Feb 2021 |
Where the issue date is marked tapped or reopened, the same bond was sold again on a later date under the same ISIN, adding to the amount outstanding rather than creating a new line. The amounts shown are the amounts outstanding recorded in the tracker. Two coupons repeat across different bonds — 7.500% appears on both the 2027 and the 2061 line, and 7.625% on both the 2032 and the 2034 line — so the ISIN and the maturity date, not the coupon, are what identify a bond.
The two euro bonds
The euro lines differ from the dollar lines in two ways that matter when you read them. They pay interest once a year rather than twice, on the anniversary of the maturity date, and they accrue on an ACT/ACT day count, which counts actual calendar days rather than assuming thirty-day months. In every other respect they are the same kind of instrument: fixed coupon, single repayment at maturity.
| Coupon | ISIN | Maturity | Amount outstanding | First issued |
|---|---|---|---|---|
| 5.625% | XS1807305328 | 16 Apr 2030 | €1,000m | 16 Apr 2018 |
| 6.375% | XS1980255936 | 11 Apr 2031 | €1,250m | 11 Apr 2019 |
Neither euro line is recorded as tapped or reopened.
What is deliberately not on this page
Egypt has issued in more forms than the twenty-one lines above, and the tracker holds several classes out of scope rather than pretending they do not exist. The reason is mechanical: the pricing engine behind this site handles conventional fixed-coupon bonds in dollars and euros, and these instruments are not that.
The first group is sukuk — Islamic trust certificates, which are structured differently from a conventional interest-paying bond. The tracker names a 7.95% 2032 sukuk and the second leg of a dual-tranche sukuk from October 2025.
The second and third groups are simply in other currencies. Egypt has sold yen-denominated Samurai bonds in 2022, in 2023, and a Sustainability Samurai in June 2026, and a yuan-denominated Sustainable Panda bond in October 2023. None is in dollars or euros, so none appears here.
Bonds that have already matured
Several Egyptian lines have repaid and left the market recently, and they are not included above. The tracker lists euro 4.75% bonds maturing in 2025 and 2026, a US dollar 5.25% green bond maturing in 2025, a US dollar 3.875% bond maturing in 2026, and a US dollar 10.875% sukuk maturing in 2026.
They are worth knowing about only because an older article or a stale list may still show them. A bond that has matured has paid its principal back and no longer exists.
One date the tracker flags explicitly
The 7.625% bond due 20 May 2034 was first issued on 20 May 2026, not 2025. The tracker carries a warning marker against this line precisely because the wrong year is an easy mistake to make and would turn an eight-year bond into a nine-year one.
The tracker also describes it as a social bond — a label issuers use for bonds whose proceeds are earmarked for stated social purposes. What Egypt has committed to under that label is not recorded in the tracker, so it is not described here.
What we are not sure about
Three things on this page are carried as assumptions or remain open. The tracker flags each of them, and so do we.
The day counts and coupon frequencies are convention, not confirmed
The conventions described above — twice-yearly coupons and a 30E/360 day count for the dollar bonds, annual coupons and ACT/ACT for the euro bonds, with interest dates falling on the maturity-day anniversary — are marked in the tracker with its 'inferred' symbol, meaning market and programme convention rather than a figure read off a public document.
They are the normal conventions for bonds of this type and we would be surprised if they were wrong, but surprise is not evidence. The coupon rates, maturity dates, ISINs and amounts in the tables are on a different footing: those come from the public exchange record.
The per-tranche Final Terms have not been read line by line
Each individual bond was sold under its own Final Terms document, which is where the exact day-count basis, the first coupon date and any make-whole or par-call provisions would be nailed down. A make-whole or par-call clause lets the issuer repay a bond before its stated maturity date on defined terms — which, if one exists, would mean the maturity dates above are the latest repayment date rather than the certain one.
The tracker records that these documents have not yet been checked tranche by tranche, because the relevant exchange listing pages are rendered by JavaScript and were not readable without a browser. Nothing above depends on the answer, but until that check is done we cannot say that no such clause exists.
The two euro lines have no price source
The euro bonds were added to the site at the user's request, but no closing-price feed available here carries them. They therefore show no price at all — a dash — rather than an estimated one, and they are deliberately excluded from the daily reconciliation check that compares our figures against closing quotes, so that their absence does not raise a false warning.
This affects only the price page, not the terms on this page. Everything else about the two lines is set up in full, and they will price the moment a euro source exists.
Where every figure here comes from
Everything above comes from public records: exchange listings, Egypt's own programme documentation and Ministry of Finance disclosure, and public issuance records. No vendor or provider price feed underlies any of these terms.
| What it tells us | Source |
|---|---|
| The ISINs, coupons, maturity dates and listing status of all twenty-one lines | Public exchange listings — London Stock Exchange and Euronext Dublin (Irish Stock Exchange). The tracker names these records but gives no direct links. |
| Programme terms, denominations and the issue and tap history | Egypt's GMTN base prospectus and Ministry of Finance investor disclosure (mof.gov.eg). Named in the tracker without a direct link. |
| The 2025 and 2026 tranches, including the 20 May 2026 social bond, and the identification of the sukuk, Samurai and Panda lines held out of scope | Public issuance records — Egypt Ministry of Finance and State Information Service press material, and deal-counsel notices including Baker Botts. |
| The coupon frequencies and day counts | Not from a document. These are market and programme convention, flagged as inferred in the tracker pending a per-tranche check of the Final Terms. |
How we work out the price
Nothing on this page is a price. Terms change rarely — a coupon, a maturity date and a repayment schedule are fixed when the bond is sold — so a reference page can state them once and stand. Prices change all day, so they live on the price page and only there. If a figure here ever disagrees with one there, this page is the one to distrust, and we would like to hear about it.
What the two have to do with each other is this. On a normal trading day a closing quote for these bonds reaches us from the market, and that anchors what the price page shows. Between closes the price moves with the things that move this market: US Treasury yields, how much extra return investors demand for African sovereign risk, market volatility and, for commodity exporters, commodity prices. Where a bond repays in instalments rather than in one go, the calculation also has to know how much of it is left on any given day — which is what the repayment schedules above are for. Get a schedule wrong and the published price is wrong.
Information only. This page is general educational material about how this market works. Nothing here is investment, financial, legal or tax advice, or a recommendation to buy or sell any security. Prices shown elsewhere on this site are indicative and are not an offer to trade.
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