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CBE offers EGP 11.5bn T-bonds on Monday

CBE offers EGP 11.5bn T-bonds on Monday
The first tranche of the T-bonds will be issued through five-year notes

Cairo - Mubasher: The Central Bank of Egypt (CBE) will offer on Monday EGP 11.5 billion treasury bonds (T-bonds), in coordination with the Ministry of Finance, to finance Egypt's budget deficit.

The first tranche of the T-bonds will be issued through five-year notes valued at EGP 6.5 billion, while the second tranche worth EGP 5 billion will be offered through 10-year notes, the CBE said on its official website.

State-run banks are the top purchasers of the government's debt instruments.

It is noteworthy to mention that the Ministry of Finance has previously announced the possibility of reducing the accepted amounts of bills and bonds on the public treasury, issued in local currency until the end of the current fiscal year.