Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue on Monday treasury bonds (T-bonds) valued at EGP 13 billion, in coordination with the Ministry of Finance, to fund the budget deficit.
The first tranche will be offered through two-year notes amounting to EGP 8 billion, while the second tranche stands at EGP 3 billion and will be issued through five-year notes, the CBE said via its official website.
Meanwhile, the third tranche of the T-bonds will be offered through 10-year notes valued at EGP 2 billion.
It is noteworthy to mention that in November, the CBE's Monetary Policy Committee (MPC) has cut the overnight deposit and lending rates by 50 basis points to 8.25% and 9.25%, respectively.
