Cairo – Mubasher: The Central Bank of Egypt (CBE) has announced that the value of the eight-year treasury bonds sold on Sunday reached EGP 1.5 billion.

The average yield of the eight-year EGP 1.5 billion notes recorded 17.15%, the CBE’s data showed.

It is worth noting that the CBE issues treasury bills (T-bills) each Sunday and Thursday and issues T-bonds each Monday.

Egypt’s debt instruments, especially T-bills, are attractive to foreign investors owing to their high yield, with state-run banks being the largest holders of the government’s debt instruments.

Egypt aims to issue EGP 409.6 billion T-bills and EGP 101.6 billion bonds in fiscal year 2018/2019.

The CBE 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 FY17/18.