The Ministry of Finance has announced plans to issue a total of 32 tenders for treasury bills and bonds, amounting to EGP 670bn in August. Of this, EGP 580bn will be allocated to treasury bills, while EGP 90bn will be dedicated to bonds. This issuance is part of the government’s broader strategy to raise EGP 2.358tn in local debt instruments during the first quarter (Q1) of fiscal year 2025/2026. The funds will be used primarily to repay maturing debt and address the state’s budget deficit.
The Central Bank of Egypt (CBE), which handles these debt issuances on behalf of the government, will offer four 91-day treasury bill tenders totaling EGP 90bn. Additionally, there will be four 182-day bills worth EGP 150bn, four 273-day bills valued at EGP 150bn, and four 364-day bills amounting to EGP 190bn.
For bonds, the offerings will include four two-year bonds with a total value of EGP 24bn, four three-year bonds amounting to EGP 50bn, and two three-year floating-rate bonds worth EGP 10bn. There will also be four five-year bonds totaling EGP 3bn, along with two more five-year floating-rate bonds, each worth EGP 3bn.
Egypt’s banks, which remain the largest investors in these debt instruments, are expected to purchase the majority of the offerings through the Primary Dealers system. These banks will then resell portions of the debt on the secondary market to both local and foreign investors, further broadening the reach of the issuances.
This upcoming wave of treasury bill and bond tenders plays a crucial role in the government’s ongoing efforts to manage its public debt and meet its fiscal obligations.
