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CBE issues EGP 3.75bn T-bonds on Monday

CBE issues EGP 3.75bn T-bonds on Monday
The issuance will be used to finance the country’s budget deficit

Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bonds (T-bonds) worth EGP 3.75 billion on Monday on behalf of the Ministry of Finance (MoF).

The first tranche of the T-bonds will be offered through three-year notes valued at EGP 2 billion, while the second tranche amounts to EGP 1.75 billion and will be offered through seven-year notes, the CBE said via its official website.

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

On 26 September, the CBE’s Monetary Policy Committee (MPC) decided to slash key interest rates by 100 basis points (bps).

According to a survey conducted by Mubasher, the yield on the T-bills offered on Sunday hit the lowest level since October 2016 when the yield on 91-day notes registered 14.594%.