Egypt’s Ministry of Finance has announced plans to issue local debt instruments worth EGP 843bn in February 2025, as part of a broader plan published on the ministry’s official website. The plan includes tenders totalling EGP 2.703tn during the third quarter of FY 2025/2026 to repay maturing debt instruments and finance the state budget deficit.
CBE, which conducts the tenders on behalf of the government, will offer in February 16 Treasury bill tenders worth EGP 660bn, 13 Treasury bond tenders worth EGP 172bn, in addition to two sukuk tenders worth EGP 11bn.
According to the plan, Treasury bills worth EGP 100bn will be offered with a 91-day maturity, EGP 160bn with a 182-day maturity, and EGP 190bn with a 273-day maturity, while 364-day T-bills worth EGP 210bn are also scheduled.
The plan also includes the issuance of two-year Treasury bonds worth EGP 48bn, including EGP 12bn in zero-coupon bonds, alongside three-year bonds worth EGP 90bn and five-year bonds worth EGP 34bn, including EGP 4bn in floating-rate bonds.
In addition, the ministry plans to issue two local fixed-return sukuk tenders worth a total of EGP 11bn.
Banks operating in the Egyptian market remain the largest investors in Treasury bills and bonds issued regularly by the government to finance the state budget deficit.
These bonds and bills are issued through 15 banks participating in the Primary Dealers system in the primary market, with these banks reselling part of the issuances in the secondary market to individual and institutional investors, both domestic and foreign.
