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CBE sells EGP 2.5bn T-bonds on Monday

CBE sells EGP 2.5bn T-bonds on Monday
The issuance will be used to finance the country's budget deficit

Cairo – Mubasher: The Central Bank of Egypt (CBE) on Monday announced the sale of treasury bonds (T-bonds) worth EGP 2.5 billion on behalf of the Ministry of Finance (MoF).

The sale included three-year T-bonds valued at EGP 1.25 billion at an average yield of 15.697% as well as seven-year T-bonds worth 1.25 billion at an average yield of 15.538%, the CBE said via its official website.

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

The CBE has not accepted all submitted bids as it has received bids for three-year T-bonds worth EGP 4.59 billion and seven-year T-bonds worth EGP 9.166 billion.