Egypt's central bank issues LE 14B in T-bonds
The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is set to issue LE 14 billion in treasury bonds (T-bonds) on Monday, Oct. 17.
The T-bonds were offered in three installments, with the first valued at LE 6 billion with a 1.5-year term, the second worth LE 7.5 billion with a three-year term, and the third worth LE 500 million with a five-year term.
The government borrows through bonds and treasury bills over different periods of time, and government banks are the largest purchasers of them.
The Ministry of Finance intends to offer 27 bids for treasury bills and bonds worth LE 269 billion during October, as part of a government plan that aims to borrow LE 878.5 billion from the local market during the second quarter of the new fiscal year 2022/2023.
According to the government's plan, the Ministry of Finance intends to issue 16 bills bids worth LE 216 billion and 11 bond tenders worth LE 53 billion, during October.