The Egyptian Ministry of Finance has revealed its intention to offer treasury bills (treasury bills) and bonds (treasury bills) with a total value of EGP 247 billion in June 2021.
The move is part of a larger plan that includes offering local debt instruments worth EGP 642.5 billion in the second quarter (Q2) 2021 (fourth quarter (Q4) year (FY) 2020/21).
According to the plan, the ministry intends to make 20 offers in June on treasury bills worth 178 billion EGP and 13 offers on bonds worth 69 billion EGP.
According to the plan, five offers for 91-day T-bills worth EGP 53.5 billion will be offered, and the same for 182 days worth EGP 51.5 billion. This is in addition to five offers for 273-day T-bills worth EGP 39 billion and five other offers for 364 days worth EGP 34 billion.
The government’s plan also includes offering two-year T bonds worth EGP 5 billion, 3-year T bonds worth EGP 14 billion and 5-year T bonds worth EGP 14 billion. of EGP 19 billion.
The Ministry of Finance will also offer 7-year T bonds worth EGP 12.5 billion and 10-year T bonds worth EGP 16.5 billion.
At the same time, it will offer 15-year T bonds worth EGP 500 million, in addition to offering 18-month “zero coupon” T bonds valued at EGP 1.5 billion.
Banks operating in the Egyptian market are the largest sectors investing in treasury bills and treasury bills, which the government issues periodically to cover the general state budget deficit.
These vessels are offered through 15 banks that participate in the primary trader system in the primary market, and these banks sell part of them in the secondary market to individual investors and to local and foreign institutions.