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Egypt Offers 91-, 266-Day T-Bills Worth EGP 5 Bln
Published in Amwal Al Ghad on 06 - 01 - 2013

The Egyptian Ministry of Finance offered 91- and 266-day treasury bills worth EGP 5 billion in an auction and canceled the sale of treasury bonds in another auction as banks demanded higher returns.
The Ministry stated that 91-day T-bills worth EGP one billion are offered at an average rate of 13.581%. Yields on 91-day T-bills ranged from 12.999% to 13.80%.
266-day T-bills worth EGP 4 billion are offered at an average rate of 14.429%. Yields on 266-day T-bills ranged from 14% to 14.70%.
The Finance Ministry cancelled an auction to sell T-bonds because banks demanded higher returns. The Ministry of Finance used government debt instruments to finance the budget deficit which is valued at EGP 200 billion.
The Ministry had earlier stated that it will offer 91-, 182-, 273- and 364-day T-bills and 3-, 5-, 7- and 10-year bonds worth EGP 149 billion in Q3 of FY 2012/2013.
91-, 182-, 273- and 364-day T-bills will be offered at values of EGP 8.5 billion, EGP 27 billion, EGP 43.5 billion and EGP 46 billion respectively.
The Ministry will also offer 3-year treasury bonds worth EGP 6 billion (mature in January 2016), 5-year treasury bonds worth EGP 7 billion (mature in November 2017), 7-year treasury bonds worth EGP 6 billion (mature in November 2019) and 10-year treasury bonds worth EGP 5 billion (mature in January 2023).


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