The Ministry of Finance is set to conduct 31 treasury bill (T-bill) and bond auctions throughout May, with a total value of EGP 682bn. This includes 16 T-bill auctions worth EGP 600bn and 15 treasury bond auctions valued at EGP 82bn.
The move comes under a broader plan by the Ministry to issue EGP 2.175trn in domestic debt instruments during the fourth quarter of the 2024/2025 fiscal year, aimed at covering the repayment of maturing debt and financing the state budget deficit. Between April and June, the government plans to launch 52 T-bill auctions worth EGP 1.905trn and 46 bond auctions totaling EGP 270bn.
According to the issuance schedule for May, the Ministry intends to hold four T-bill auctions with 91-day maturities and a combined value of EGP 130bn. Another four auctions, also worth EGP 130bn, will be for 182-day maturities. Additionally, there will be four auctions for 273-day bills worth EGP 170bn, and four more for 364-day bills, also totaling EGP 170bn.
As for treasury bonds, the Ministry will offer four 2-year bond auctions with a total value of EGP 14bn and four 3-year fixed-rate bond auctions worth EGP 43bn. It also plans to issue three 3-year floating-rate bond auctions valued at EGP 17bn. Furthermore, two 5-year fixed-rate bond auctions worth EGP 5bn are scheduled, along with two 5-year floating-rate bond auctions totaling EGP 3bn.
Egyptian banks remain the primary investors in these debt instruments, which the government issues regularly to bridge its financing needs. The offerings are made through 15 banks participating in the primary dealers system. These banks purchase the instruments directly from the Ministry and later resell portions in the secondary market to individual investors and both domestic and international institutions.
