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Finance Ministry issues T-bonds worth EGP 1.75 bln on Monday

Monday 27/May/2019 - 10:02 AM
File Photo
File Photo
Nada Moustafa
The Ministry of Finance، issued EGP 1.75 billion in treasury bonds on Monday.

The T-bonds were offered in two installments، with the first valued at EGP one billion with a three-year term and the second worth EGP 750 million with a seven-year term.

Noteworthy، a Treasury bill (T-Bill) is a short-term debt obligation backed by the Treasury Dept. of the U.S. government with a maturity of less than one-year، sold in denominations of $1،000 up to a maximum purchase of $5 million. T-bills have various maturities and are issued at a discount from par، according to Investopedia.

When an investor purchases a T-Bill، the U.S. government effectively writes investors an IOU; they do not receive regular interest payments as with a coupon bond، but a T-Bill does include interest، reflected in the amount it pays when it matures.

The longer the maturity date، the higher the interest rate that the T-Bill will pay to the investor.

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