Yara El-Janaini_ The Central Bank of Egypt, on behalf of the Ministry of Finance, accepted total liquidity worth EGP 29.361 billion in today's (Monday) fixed-rate EGP treasury bond issuance for 3-year and 1.5-year tenors, out of total submitted bids amounting to approximately EGP 53.041 billion.
The Ministry of Finance aimed to raise EGP 20 billion from the 3-year treasury bond issuance with semi-annual coupon payouts, but accepted 27 bids worth EGP 18.861 billion, falling short of the target volume.
The average weighted yield for accepted 3-year bids recorded 24.13%, compared to 24.02% in the previous auction, representing an 11-basis-point increase. Accepted yields ranged between 24% and 24.2%, while the coupon rate stood at 23.98%.
Submitted bids reached approximately EGP 32.691 billion across 45 bids, with an average weighted yield of 24.83%, while yield requests ranged from 24% to 29%.
In the inaugural issuance of 1.5-year treasury bonds, the Ministry of Finance targeted raising EGP 10 billion with semi-annual coupon payouts, and accepted 9 bids valued at EGP 10.5 billion, exceeding the targeted amount by around EGP 500 million.
The average weighted yield for the accepted bids recorded 24.43%, with yields ranging between 24.38% and 24.5%, while the coupon rate was set at 24.43%.
Submitted bids for this tenor reached EGP 20.350 billion spread across 28 bids, with an average weighted yield of 25.36%, while yield requests ranged between 24.38% and 32%.
