CBE to Auction T-bonds worth EGP3 bln Today

On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 3- and 7-year treasury bonds worth EGP 3 billion.

Throughout its official website, the CBE stated that the first offering; 3-year t-bonds is at value of EGP 1.5 billion, whereas the second offering; the 7-year t-bonds amounts to EGP 1.5 billion.

This comes in accordance with the Egyptian Finance Ministry’s plan to offer EGP 63 billion within the month, compared to EGP 67.5 billion raised for last October.

This comes as the Egyptian government is targeting the provision of EGP 206.5 billion in the local market within the second quarter of the current fiscal year of 2013/2014 through issuing treasury bills and bonds.