Egypt will issue T-bills, T-bonds worth total of EGP 198bn in May

Egypt is planning to offer Treasury bills (T-bills) and T-bonds worth a total of 198 billion Egyptian pounds ($12.6 billion) during May, according to the Ministry of Finance.

The offering comes as part of a larger plan that includes local debt instruments worth  642.5 billion pounds, which will take place during the second quarter (Q2) or Q4 of financial year (FY) 2020/21.

According to the Ministry of Finance’s plan, it intends to issue 16 offerings for T-bills worth 142 billion pounds, and to issue 11 T-bonds offerings worth 6bn pounds during the month of May.

According to the plan: four offerings for 91-day T-bills at a value of  43 billion pounds will be issued; four T-bills issuances will be offered at 182-day at a value of 41 billion pounds; in addition to four offerings for 273-day worth 31 billion pounds, and four others for 364-day at a value of 27 billion pounds.

The Egyptian government’s plan also includes two-year T-bonds offering worth 5 billion pounds, three-year T-bonds worth 3.5 billion pounds, and five-year T-bonds worth 12.5 billion pounds.