Arab Finance: The Central Bank of Egypt (CBE) sold EGP 5 billion worth of fixed-rate treasury bonds (T-bonds) with a three-year maturity period in Monday’s auction.
Proceeds from the bonds were 75% below the targeted EGP 20 billion, amid higher yields demanded by investors.
The weighted average yield on the bonds stood at 23.594%, while the maximum yield reached 23.7%.
Meanwhile, investors submitted bids worth a total of EGP 50.45 billion, with an average yield of 24.273%. The maximum requested yield reached 28%.
