Egypt to Issue $1.2 bln in one-year Dollar-dominated T-bills

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Egypt’s central bank said it was issuing a USD 1.2 bln one-year treasury bill on Tuesday with an auction cutoff of 1600 Cairo local time (1400 GMT).

The bond matures on May 12, 2015.

The government has turned mainly to the local money market to finance its public deficit since an uprising in early 2011 chased away many foreign investors.

Source: Reuters