Egypt’s CBE auctions EGP 2b FRN T-bonds

By Nada Ali On Nov 11, 2024

Egypt's central bank Egypt — Egypt's central bank (CBE)

The Central Bank of Egypt (CBE) announced on Monday the issuance of two billion Egyptian pounds worth of floating-rate note (FRN) treasury bonds. The three-year bond is set to mature on October 08, 2027.

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 -0.0203 per cent.

Attribution: CBE website

Subediting: M. S. Salama

CBE Central Bank of Egypt (CBE)Egypt's central bank Egypt's Ministry of Finance Egyptian Ministry of Finance Egyptian pounds floating-rate note (FRN)FRN