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Egypt sells EGP 4.9bn T-bonds

Egypt sells EGP 4.9bn T-bonds
The CBE sold more T-bonds than it had originally offered

By: Islam Fadl

Cairo – Mubasher: The Central Bank of Egypt (CBE) announced the sale of treasury bonds (T-bonds) worth EGP 4.93 billion on Monday on behalf of the Ministry of Finance (MoF).

The sale included three-year notes valued at EGP 3.68 billion with an average yield of 14.443% as well as seven-year notes worth EGP 1.25 billion with an average yield of 14.679%.

The CBE sold more T-bonds than it had originally offered.

At the end of July, foreign holdings of Egyptian debt instruments registered $20.1 billion, board member of the CBE Fakhry El Fekki previously told Mubasher.