Local, international institutions offer to invest $1.5bn in Egyptian treasury bills

Hossam Mounir
1 Min Read

Local and international banks and financial institutions offered to invest $1.4977bn in the treasury bills tender put forward by the Central Bank of Egypt (CBE) on behalf of the government on Monday.

The CBE accepted $1.1637bn of this liquidity. The CBE had put forward the tender with a value of $1.1bn.

The proceeds obtained by the CBE from this tender will be directed towards paying-off a similar tender put forward on 16 December, 2014, for $1.173bn.

The new tender will mature in 360 days, on 13 December, 2016.

The interest rate the international and local financial institutions will obtain in return for investing in these dollar bills will be a minimum of 2.8% and a maximum of 2.84%, averaging at 2.83%.

The CBE began putting-up dollar treasury bills on 30 November, 2011. It allows all international and local organisations and banks to take part in tenders, with a minimum subscription of $100,000 and its multiples.

Share This Article
Leave a comment