Mubasher TV
Contact Us Advertising   العربية

CBE issues EGP 16bn T-bills on Sunday

CBE issues EGP 16bn T-bills on Sunday
CBE issues EGP 16bn T-bills on Sunday

Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 16 billion on Sunday on behalf of the Ministry of Finance (MOF).

The first tranche of T-bills will be offered through 91-day notes at EGP 7.75 billion, while the second offering will be through 266-day notes at EGP 8.25 billion, according to the CBE’s official website.

The issuance will be used to finance the budget deficit, the CBE said.

Egypt’s debt instruments, especially T-bills, are attractive to foreign investors owing to their high yield.

State-run banks are the largest holders of the government’s debt instruments.

The CBE had previously said that Egypt’s total foreign debt rose 2.3% quarter-on-quarter, or $1.8 billion, to $80.8 billion in the first quarter of fiscal year 2017/2018.