Official: Egypt to Raise EGP12 bln T-bills Tomorrow

Egypt will be offering tomorrow treasury bills worth EGP 12 billion through 4 offerings at various maturities, the country’s finance ministry said in a statement on Saturday.

Egyptian Finance Ministry stated that it will be offering on Sunday 91- and 273-day T-bills at values of EGP 2 billion and EGP 3.5 billion, respectively.

Also on Sunday, the ministry is set to raise 182- and 364-day T-bills at values of EGP 2.5 billion and EGP 4 billion, respectively, seeking to compensate the delay in the launch of those two offerings  occurred last Thursday October 17 due to Eid al-Adha vacations.

The Egyptian Finance Ministry is planning to raise treasury bills and bonds at values of EGP 206.5 billion within the second quarter of the current year, compared to EGP 200 billion for the first quarter. The ministry is seeking to fill the EGP 40 billion state budget deficit.