Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bonds (T-bonds) totalling EGP 18.75 billion on Thursday in cooperation with the Ministry of Finance (MOF).
The first tranche of the 182-day notes is EGP 9.5 billion, the CBE said via its official website, noting that the second tranche amounts to EGP 9.25 billion and would mature in 364 days.
The issuance will be used to finance the budget deficit. Egypt’s debt instruments, particularly T-bills, are seen as attractive to foreign investors owing to their high yield. State-run banks are the largest holders of government debt.
The MOF said previously it was looking to finance the local budget deficit by EGP 511.2 billion, according to budget data for 2018/2019. Moreover, Egypt is planning to issue T-bills worth EGP 409.6 billion added to bonds worth EGP 101.6 billion.
