Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bonds (T-bonds) worth EGP 1.75 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 at EGP 1 billion, while the second tranche stands at EGP 750 million 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, the CBE added.
In April, Egypt announced raising the Eurobonds issuance volume of its international bond sale programme to $30 billion from $20 billion, according to the Luxembourg Stock Exchange’s bulletin.
In March, the finance ministry announced issuing Eurobonds worth $4 billion with maturities of five years, ten years, and 30 years.
Egypt seeks to slash borrowing cost through counting on Eurobond issuances instead of the country's domestic high-yield debt.
