Around LE 105 B in T-bills and bonds to be issued in June

CAIRO – 2 June: The Ministry of Finance plans to issue LE105.25 billion in treasury bonds and bills over June, state-owned news agency MENA reported Thursday.

Listing the values of T-bills, the ministry said that that 91-day and 182-day term bills will be issued at values of LE 25.25 billion each, while the 273-day bills at 24.25 billion and 364-bills at LE 24.25 billion.

In the same month, the ministry will issue three-year treasury bonds at the value of LE 1.75 billion, five-year and seven-year bonds at LE 1.5 billion each and 10-year bonds at LE 1.5 billion.

Minister of Finance Amr El Garhy said this week that foreign investments in treasury bills reached $7.53 billion (LE 136 billion) from November to date.

By the end of January, investments in treasury bills recorded $570 million, Deputy Minister of Finance for Fiscal Policies Ahmed Kojak said in February.

Egypt’s Central Bank holds T-bill auctions every Sunday and Thursday. T-bills are to be offered in two installments: the first valued at LE 6.250 billion with a 273-day term, and the second is worth LE 6.5 billion with a 91-day term, according to the auction schedule.