Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 15.5 billion on Wednesday in coordination with the Ministry of Finance (MOF) to finance the budget deficit.
The MoF has adjusted the weekly issuance of debt instruments, as Thursday coincided with the CBE’s official holiday in celebration of Prophet Muhammad's birthday.
The first tranche of T-bills will be offered through 182-day notes at EGP 7.25 billion, while the second offering will be through 357-day notes at EGP 8.25 billion, the CBE added via its official website.
Egyptian debt instruments are attracting a large number of foreign investors, especially T-bills, as the yield on bonds exceeded.
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.
