Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 7.5 billion on Monday on behalf of the Ministry of Finance.
The first tranche of the T-bonds is valued at EGP 4 billion and will be offered through five-year notes, while the second tranche will be offered through seven-year notes valued at EGP 3.5 billion, the CBE said on its official website.
The issuance will be used to finance the country’s budget deficit. State-owned banks are the top purchasers of the government debt instruments.
Previously, the finance ministry revealed plans to expand into long-term debt instruments instead of short-term borrowing.
