Egypt’s c. bank issues EGP 2b zero coupon t-bonds

Egypt’s central bank (CBE) announced on Monday the issuance of 728-day treasury zero-coupon bonds worth two billion Egyptian pounds, according to the CBE’s website.

The Ministry of Finance has authorised the CBE to manage its own offerings of treasury bills and bonds in Egyptian pounds throughout the financial year to fund the general budget for 2023-2024.

Zero-coupon t-bonds do not pay interest but reward investors with a higher principal return at maturity, according to DailyForex website.