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 the T-bonds will be offered through five-year notes at EGP 750 million, while the second tranche amounts to EGP 500 million and will be offered through ten-year notes, the CBE said via its official website.

The issuance will be used to finance the country's budget deficit, the CBE added.

Previously, Egyptian finance minister Mohamed Maait stated that total foreign holdings of Egypt's sovereign debt reached $15.8 billion in February.

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