Central Bank of Egypt Auctions Treasury Bills Valued at EGP 60 Billion

Central Bank of Egypt Auctions Treasury Bills Valued at EGP 60 Billion

By Staff Writer, 10 January 2024

On Monday, 8 January 2024, the Central Bank of Egypt (CBE) successfully auctioned treasury bills (T-bills) totaling EGP 60 billion, segmented into two distinct tranches.

Official records indicate that the initial tranche amounted to EGP 40 billion with a maturity period extending 91 days, culminating on 9 April of the same year.

Concurrently, the second tranche, valued at EGP 20 billion, is set to mature over a span of 273 days, concluding on 8 October 2024.

In addition to the T-bills, the CBE unveiled a tranche of floating-rate T-bonds, amounting to EGP 500 million.

Investors can anticipate a five-year maturity cycle for this bond, reaching its culmination on 9 January 2029.

This recent auction follows closely on the heels of a 4 January initiative where the financial institution issued T-bills amounting to EGP 65 billion, again segmented into two offerings.

It's pertinent to note that both the Central Bank of Egypt and the Egyptian Exchange (EGX) observed a temporary halt in their operations earlier this week, marking the celebration of Coptic Christmas Day.

Source: Mubasher

Related Report

Egypt Startup Ecosystem

Egypt's Burgeoning Start-Up Ecosystem

A look at the movers and shakers inside Egypt’s start-up ecosystem that attracted US $491 million in VC funding in 2021, and is expected to break the US $1 billion funding ceiling in 2022.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems