Egypt’s CBE issues EGP 22b T-bonds fixed coupon

The Central Bank of Egypt (CBE) on Monday will auction treasury bonds (T-Bonds) with fixed coupon worth 22 billion Egyptian pounds, in coordination with the Ministry of Finance, according to a statement on its website.

The auctioned bonds are divided into three offerings. The first offering amounts to four billion pounds for two years, the second is worth 15 billion pounds for three years, and the third is three billion pounds for five years.

A coupon is an annual interest paid on a bond. Investors receive a coupon payment, either annually or semi-annually, from issuance until maturity, if they hold the bond, according to DailyForex website.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama