Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bonds (T-bonds) worth EGP 1.25 billion on Monday on behalf of the Ministry of Finance (MOF).

The first tranche of T-bonds will be offered through three-year notes at EGP 750 million, while the second offering will be through seven-year notes at EGP 500 million, according to the CBE’s official website.

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

Egypt seeks to issue T-bonds worth EGP 4.25 billion during October, versus cancelled T-bonds worth EGP 13.5 billion in September.

The most populous Arab country aims to issue EGP 409.6 billion T-bills and EGP 101.6 billion bonds in fiscal year 2018/2019.