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Egypt Sells 91-, 266-Day T-Bills Worth EGP 4.5 Bln
Published in Amwal Al Ghad on 03 - 02 - 2013

The Egyptian Ministry of Finance sold on Sunday 91- and 266-day T-bills worth EGP 4.5 billion. The Ministry offered 91- and 266-day T-bills worth EGP 1 billion and EGP 3.5 billion respectively.
The yields on 91-day T-bills ranged from 12.648% to 12.956%, while the average return registered 12.914%. The yields on 26-day T-bills ranged from 13.780% to 14.015%, while the average return registered 13.972%.
The Ministry targets to offer 91-, 182-, 273-, and 364-day T-bills and 3-, 5-, 7- and 10-year T-bonds with total value of EGP 52.5 billion in February. The Ministry stated that it will also offer 91-, 182-, 273-, and 364-day T-bills with values of EGP 5.5 billion, EGP 9.5 billion, EGP 15.5 billion and EGP 16 billion respectively.
The Ministry added that it will offer 3-year T-bonds (mature on January 2016) worth EGP 2 billion, 5-year T-bonds (mature in November 2017) worth EGP 1.5 billion, 7-year T-bonds (mature in November 2019) worth EGP 1.5 billion and 10-year T-bonds (mature in January 2023) worth EGP 1 billion.
The Ministry sells treasury bills and bonds in order to finance the widening budget deficit which is expected to reach EGP 200 billion by the end of FY 2012/2013.
It is worth noting that the Central Bank of Egypt (CBE) sells treasury bills and bonds on behalf of the Ministry of Finance.


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