CBE accepts new T-bills worth $1.008 bn with interest rate of 4.9% for a year

The latest transactions that took place in Debt instruments market in this week’s auctions revealed the acceptance on T-bills (364 days) worth EGP1.008 bn from 20 banks and corporates, with an interest rate ranging between 4.899% and 4.9%, while the average interest rate was 4.9%.

CBE indicated, through the bank’s official website, that 23 banks and financial corporates submitted requests reaching $1.068 bn, to subscribe to T-bills in US dollars for (364 days) at an interest rate that ranged between 4.899% and 6%, while the average return was 4.956%.

It should be noted that the bank announced, at the end of last week, the issuance of T-bills of (364 days) category, at a value of $ 1 bn, to finance the state budget deficit.

This came with a deadline for submission today, June 2, 2023, and the issue date of July 2, 2023, provided that the coupon price is 14.483%, and the due date is June 2, 2024.