Egypt to issue USD1.25 billion one-year dollar-denominated T-bill
Egypt's Finance Ministry will issue USD1.25 billion in one-year dollar-denominated treasury bills to local banks and foreign financial institutions on 10 May, the Central Bank said in a statement on Thursday. The auction deadline is May 9, and the maturity date for the issuance is 9 May 2017, the statement said. We note the issuance is to refinance a maturing paper with nearly the same amount and is not a source for fresh funds. (Reuters, Mohamed Abu Basha)
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