Egypt’s c. bank offers EGP 1.5b FRN T-bonds

The Central Bank of Egypt (CBE) announced on Monday the issuance of 1.5 billion Egyptian pounds worth of floating-rate note (FRN) treasury bonds.

The interest rate on these five-year bonds will be calculated based on a formula: Coupon = {(Benchmark + Fixed Spread) / (1 – 20%)}. The bonds will pay interest quarterly, with an indicative spread of -0.0047 per cent.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama

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