Daily News Egypt

CBE to issue $1.6bn worth T-bills on Monday - Daily News Egypt

Advertising Area

Advertising Area

CBE to issue $1.6bn worth T-bills on Monday

Proceeds of bid directed to pay previous tender worth $1.585bn

The Central Bank of Egypt (CBE) will launch, on Monday, a tender of treasury bills (T-bills) worth $1.6bn, for a period of 364 days, as it matures on 15 November 2022.

The proceeds of this bid are directed to paying the maturity of a previous bid by CBE on 17 November 2020, with a value of $1.585bn.

CBE issued the last tender for dollar-denominated T-bills on 7 June 2021, with a value of $500m, for a one-year term, due on 7 June 2022.

The bank received 24 offers from local and foreign investors to cover this bid, amounting to $540.6m, with interest ranging between 3.05% as the lowest price, 3.10% as the highest price, and 3.088% as an average.

CBE allows subscription in these bills for local banks and foreign institutions, with a minimum subscription of $100,000 and its multiples.

The return of these T-bills is determined according to several indicators, the most important of which are the volume of dollar liquidity in the market, the alternative investment opportunities available to local and foreign banks and financial institutions, and the country’s credit rating.

Topics: CBE T-bills

Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter