The Central Bank of Egypt (CBE) received 31 offers from local and foreign investors to invest $1.095bn in a treasury bill (T-Bill) auction launched Monday.
The CBE launched an auction of $800m T-Bills for a period of one year, due on 4 May 2021. The proceeds of this tender will be directed to pay off a previous tender entitlement, which the CBE offered on 5 May 2019, at a value of $1bn.
The CBE accepted 25 of the offers, valued at $975.4m, with an interest ranging between a minimum of 3.47% and a high of 3.5%, with 3.495% as an average. It rejected other offers from investors who requested up to 5.5% interest.
The CBE is allowing both local banks and foreign institutions to subscribe to these T-Bills with a minimum subscription of $100,000 and its multiples.