Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue treasury bonds (T-bonds) worth EGP 8 billion on Monday, in coordination with the Egyptian Ministry of Finance (MoF) to fund the budget deficit.
The first tranche of the T-bonds stands at EGP 4.5 billion and will be offered through three-year notes, according to the CBE's official website.
Meanwhile, the second tranche worth EGP 3.5 billion will be offered through seven-year notes.
Government banks are the largest buyers of the government T-bills and bonds of different tenors.
Noteworthy to mention, in August, the MOF announced that it would decrease the accepted amounts of T-bills and bonds bids issued in local currency until the end of the current fiscal year.
