Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bonds (T-bonds) worth EGP 2.5 billion on Monday in coordination with the Ministry of Finance (MoF) to finance the budget deficit.
The first tranche of T-bills will be offered through three-year notes at EGP 1.5 billion, while the second offering will be through seven-year notes at EGP 1 billion, the CBE added on its official website.
Egyptian debt instruments are attracting a large number of foreign investors, especially treasury 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.
