Egypt’s FinMin Raises EGP 6.8 Bln In T-Bills

The Egyptian Ministry of Finance has sold 182- and 357-day treasury bills worth EGP 6.847 billion on Thursday, while it sought to raise EGP 7.5 billion in the T-bills.

The Ministry raised EGP 2.847 billion from the 182-day T-bills, while it sought to raise EGP 3.5 billion. It raised EGP 4 billion from the 357-day T-bills, the total value it targeted.

The yields on 182-day T-bills ranged from 14% to 14.75%, while the average return registered 14.364%.

The yields on 357-day T-bills ranged from 14% to 14.149%, while the average return registered 14.824%.

The last week has witnessed a decline of demand for government debt instruments, as the Ministry sold EGP 4.4 billion worth of treasury bills and bonds, while it sought to raise EGP 15.5 billion. It also cancelled an auction to sell 357-day T-bills worth EGP 653 million.