Egypt’s Ministry of Finance will offer eight treasury bill and bond tenders this week with a combined value of US$3.99 billion (EGP190 billion), according to an official announcement.
The Ministry of Finance said the planned offerings form part of its ongoing financing strategy. They include four treasury bill tenders worth a total of US$3.38 billion (EGP160 billion) and four treasury bond tenders amounting to US$633.6 million (EGP30 billion).
The treasury bill issues will comprise a 91-day bill valued at EGP25 billion, a 182-day bill worth EGP40 billion, a 273-day bill amounting to EGP45 billion, and a 364-day bill valued at EGP50 billion.
On the bond side, the ministry will offer EGP8 billion in two-year treasury bonds and EGP4 billion in three-year bonds. In addition, there will be a three-year bond tender worth EGP15 billion with a variable yield, alongside a five-year bond tender valued at EGP3 billion.
Banks operating in the Egyptian market remain the main investors in treasury bills and bonds, which the government issues on a regular basis to finance the state’s general budget deficit.
The treasury bills and bonds will be offered through 15 banks participating in the Primary Dealers system in the primary market. These banks later resell parts of the issues on the secondary market to local and foreign individual and institutional investors.
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