Central Bank of Egypt Offers EGP 5 Billion in 3-Year Sovereign Sukuk to Bridge Financing Gap
The Central Bank of Egypt (CBE) is issuing fixed-rate sovereign sukuk on Monday on behalf of the Ministry of Finance to help cover the nation's budget financing gap.
According to reports released by the CBE, today's offering comprises 3-year fixed-rate sukuk valued at EGP 5 billion, featuring a targeted average yield of 22.983%.
Historical Context: June Sukuk Issuance
This new issuance follows a previous sovereign sukuk auction conducted by the CBE last June:
MetricJune Auction Details
Target Offering ValueEGP 1.5 Billion
Total Demand ReceivedEGP 1.817 Billion (across 6 investors)
Offered Yield Range23.000% – 23.100%
Accepted Bids ValueEGP 1.2 Billion (across 3 accepted bids)
Final Accepted Yield23.100%