Egypt’s CBE issues EGP 5b zero coupon t-bonds

Egypt’s central bank (CBE) announced on Thursday the issuance of 546-day treasury zero-coupon bonds worth five billion Egyptian pounds, according to the CBE’s website.

The Ministry of Finance has authorised the CBE to manage its own offerings of treasury bills and bonds in Egyptian pounds throughout the fiscal year to fund the general budget for 2023-2024.

Zero-coupon t-bonds do not pay interest but reward investors with a higher principal return at maturity, as explained by DailyForex website.