Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bonds (T-bonds) worth EGP 2.25 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 1.25 billion, whereas the second tranche stands at EGP 1 billion and will be offered through 10-year notes, the CBE announced via its official website.

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

Egypt’s debt instruments are considered attractive to foreign investors owing to their high yield. State-run banks are the largest holders of the government’s debt instruments.

The North African nation seeks to cut borrowing cost through counting on Eurobond issuances instead of the country’s local high-yield debt.