Central Bank of Egypt issues 15 bln pounds treasury bills Thursday

The Central Bank of Egypt (CBE) issued treasury bills (T-bills) worth 15 billion pounds on Thursday in coordination with the Ministry of Finance (MOF) to finance the budget deficit.

The first tranche of T-bills will be offered through 182-day notes at 7 billion pounds, while the second offering will be through 364-day notes at 8 billion pounds, the CBE added on its official website.

Egyptian debt instruments are attracting a large number of foreign investors, especially T-bills, as the return on bonds exceeded.

The MOF posted a 51 percent year-on-year surge in T-bills and T-bonds issues for the second quarter of financial year 2017/2018.