Egypt Central Bank to auction EGP6,5bn in T-bonds today

Egypt’s Central Bank is to issue treasury bonds worth 6,5 billion Egyptian pounds (US$829,8 million), on behalf of the Ministry of Finance.

The bonds will be with maturities of a year and half, three and seven years, according to the central bank’s statement.

The treasury bonds will be auctioned in two installments; one valued 3 billion Egyptian pounds with a three-year maturity; while the other worth 1,5 billion pounds with a seven-year maturity.

In addition, the bank will auction zero coupon bonds worth around 2 billion pounds with an 18-month maturity.

The ministry is targeting auctioning treasury bills and bonds totalling 262 billion pounds in the first quarter of the fiscal year 2015-2016, compared to 217 billion pounds the same period a year earlier.