Official: Egypt to Raise T-Bonds, Bills Today

Egypt will be offering today 91-and 266- day treasury bills totaled EGP 5.5 billion, the country’s finance ministry said in a statement. In addition, the Egyptian Finance Ministry is set to raise 3-year treasury bonds worth EGP 1.5 billion today.

The ministry elaborated that the 91-day T-bills will be at value of EGP 2 billion, whereas the 266-day T-bills are worth EGP 3.5 billion.

For the T-bonds, the ministry said it will offering them earlier to be today October 13th, instead of tomorrow October 14th which is scheduled to be the beginning of the official holidays to celebrate the coming of Eid al-Adha. The 3-year treasury bonds will be offered today at value of EGP 1.5 billion.

It is worth mentioning the Egyptian Finance Ministry is offering treasury bonds and bills, as an attempt to fill the country’s budget deficit which registered EGP 40 billion during July and August of 2013.