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

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