Egypt’s c.bank offers 19 bln pounds T-bills on Sunday

Central Bank of Egypt (CBE) offered treasury bills (T-bills) estimated at 19 billion Egyptian pounds ($1.2 billion) on Sunday.

The first tranche of the T-bills is offered through 91-day notes worth 8.5 billion pounds, while the second tranche is valued at 10.5 billion pounds and will be offered through 266-day notes, CBE added.

The issuance was used to finance the country’s budget deficit. State-owned banks are the top purchasers of the government debt instruments.