Egypt’s CBE issues EGP5b FRN T-bonds

The Central Bank of Egypt (CBE) announced on Monday the issuance of 5 billion Egyptian pounds worth of floating-rate note (FRN) treasury bonds.

The interest rate on these three-year bonds will be calculated based on a formula: Coupon = {(Benchmark + Fixed Spread) / (1 – 20%)}.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser