Business & Economy

Egypt receives offers to lend

Central Bank of Egypt announced the sale of treasury bills denominated in US dollars for one year, at a value of $ 1.088 billion, with an average return on these debts of 3.39%.

A document issued by one of the banks arranging the sale of bonds in Egypt in 3 tranches revealed that Cairo expects to collect about $ 3 billion from the process, after receiving more than $ 9 billion in requests, which reflects confidence in the governments’ ability to pay.

document showed that Egypt reduced the indicative price to between 4.125% and 4.25% for the five-year tranche and about 6.125% for ten-year bonds and 7.75% for 40-year bonds.


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