Egypt’s central bank issues EGP 5b FRN T-bonds

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

The bonds will mature on 7 October, 2028, the CBE said in a statement.

The interest rate on the three-year bonds will be determined according to the formula: Coupon = {(Benchmark + Fixed Spread) / (1 – 20%)}, linking returns to market rate fluctuations.

Attribution: Amwal Al Ghad English