Cairo – Mubasher: The Egyptian government has sold five-year treasury bonds (T-bonds) worth EGP 3.5 billion ($196 million) at a fixed yield of 17.65% per year.
The yield of these bonds will be distributed every six months and will be listed in the Egyptian Exchange’s (EGX) database as of Wednesday, 5 September, Reuters reported, citing a statement by the EGX.
On Tuesday, the finance ministry said it had cancelled three- and seven-year T-bond sales in a bid valued at EGP 3.5 billion.
Egypt aims to issue EGP 409.6 billion T-bills and EGP 101.6 billion bonds in fiscal year 2018/2019.
The most populous Arab county also seeks to finance state budget deficit with EGP 511.2 billion this fiscal year.