Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 7.5 billion on Monday on behalf of the Ministry of Finance.

The first tranche of the T-bonds will be offered through three-year notes valued at EGP 4 billion, while the second tranche stands at EGP 3.25 billion and will be offered through seven-year notes, according to data published on the CBE’s official website.

The issuance will be used to finance the country’s budget deficit. State-run banks are the top purchasers of the government debt instruments.

Previously, the finance ministry announced plans to diversify its financing sources and expand into long-term debt instruments instead of short-term borrowing.