Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 13.25 billion on Sunday in coordination with the Ministry of Finance (MOF) to finance the budget deficit.
The first tranche of T-bills will be offered through 91-day notes at EGP 6.5 billion, while the second offering will be through 273-day notes at EGP 6.75 billion, the CBE added on its official website.
Egyptian debt instruments are attracting a large number of foreign investors, especially T-bills owning to their high yield.
Cost of debt surged 30% to about EGP 316.6 billion in fiscal year 2016/2017, compared to EGP 243.6 billion in the prior fiscal year.
The MOF posted a 51% year-on-year surge in T-bills and T-bonds issues for the second quarter of fiscal year 2017/2018.
