Egypt to issue treasury bills, bonds worth $11 bln this July

Egypt’s Ministry of Finance is planning to issue this July treasury bonds and treasury bills totalling 97.750 million Egyptian pounds ($11 billion).

In a statement on Friday, the ministry said it would raise 91-day, 182-day, 273-day, and 364-day treasury bills worth 19 billion, 19 billion, 20.5 billion, and 22 billion pounds, respectively.

The ministry will also raise four treasury bonds; the first worth 6.250 billion pounds, to mature in three years (July 2019). The second is valued at 4.750 billion pounds, to mature in five years (July 2021); while the third is worth 2 billion pounds, to mature in seven years (April 2022). The four treasury bonds will amount to 750 million pounds, to mature in 10 years (July 2026).

Moreover, the ministry added that it would offer this month zero coupon treasury bond worth 3.5 billion pounds, to mature in 18 months.