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CBE issues EGP 16bn T-bills Thursday

CBE issues EGP 16bn T-bills Thursday
CBE issues EGP 16bn T-bills Thursday

Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 16 billion on Thursday in coordination with the Ministry of Finance (MOF) to finance the budget deficit.

The first tranche of T-bills will be offered through 182-day notes at EGP 7.5 billion, while the second offering will be through 357-day notes at EGP 8.5 billion, the CBE added on its official website.

Egyptian debt instruments are attracting a large number of foreign investors, especially T-bills, as the bonds’ yield exceeded.

The MOF posted a 51% year-on-year surge in T-bills and T-bonds issues for the second quarter of fiscal year 2017/2018.