Egypt to sell $1.56 bln in one-year dollar T-bill auction Nov 18 – c.bank

Egypt plans to auction $1.56 billion in one-year dollar-dominated treasury bills on November 18, the central bank said on Wednesday.

The auction will be settled on November 18, and the T-bills are due to mature on November 17 2020, the bank added.

The North African country sold €695 million ($765.4 million) of one-year euro-denominated treasury bills on November 11 at an average yield of 1.43 percent compared to 1.49 percent at a similar auction in August.

Officials in Egypt are seeking to diversify the country’s sources of foreign debt and lengthen its average maturity.