Egypt’s CBE offers EGP 6b zero coupon t-bonds

Egypt’s central bank (CBE) on Monday offered a 546-day treasury zero-coupon bonds worth six 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.