Egypt issues EGP 6b zero coupon t-bonds

The Central Bank of Egypt (CBE) announced the issuance of 6 billion Egyptian pounds in zero-coupon treasury bonds on Monday, according to a statement published on the CBE’s website.

These bonds have a maturity date of September 30, 2025, meaning they will be held for a period of 525 days, as per the statement.

The Ministry of Finance has authorised the CBE to manage its own offerings of treasury bills and bonds in Egyptian pounds throughout the financial year to fund the general budget for 2023-2024.

Zero-coupon t-bonds do not pay interest but reward investors with a higher principal return at maturity, as explained by DailyForex website.