Egypt’s FinMin Offers 3-, 7-year T-Bonds Worth EGP2 Bln Today

Egypt’s Ministry of Finance stated, on its website, that the 3-year treasury bonds worth EGP one billion and the 7-year t-bonds as well.

The ministry sold yesterday 91- and 273- day treasury bills worth EGP 5.29 billion with average yields of 14.025% and 14.741% respectively.

Moreover, Egypt’s Ministry of Finance will offer 364-day treasury bills worth US$ 550 million. Last May, Ministry of finance’s proceeds from selling treasury bills recorded US$ 6.09 billion. These t-bills divided into 5 raises, first raise was at US$ 1.717 billion during November 2012 and with average yield of 3.082%.

In December 2012, the second raise amounted to US$ 1.22 billion with average yield 3.213%. Meanwhile the third raise, in January 2013, worth US$ 1.089 billion with 3.468% average yield. The fourth raise, in February 2013, was US$ 819.5 million with 3.79% average yield. The fifth raise worth US$ 1.25 billion, in May.

It is worth mentioning that the Ministry of finance sold yesterday 91- and 273 year treasury bills worth EGP 5.29 billion with average yields of 14.025% and 14.741% respectively.

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