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Egypt to offer bonds worth 3.5 billion Egyptian pounds

Egyptian

Egypt's Ministry of Finance will offer 3.5 billion Egyptian pounds ($575.99 million) in three-year, five-year and seven-year bonds at an auction on Aug. 16, the central bank said on Monday.

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August 14, 2012 11:30 by



Egypt’s Ministry of Finance will offer 3.5 billion Egyptian pounds ($575.99 million) in three-year, five-year and seven-year bonds at an auction on Aug. 16, the central bank said on Monday.

It will offer 1 billion pounds in reopened three-year bonds maturing on July 3, 2015 with a coupon of 16.15 percent, 1.5 billion pounds in reopened five-year bonds maturing on Aug. 14, 2017 and 1 billion pounds in seven-year bonds maturing on Aug 21, 2019, the bank said.

Settlement for the bonds, which the central bank is selling on behalf of the ministry, is on Aug. 21.

($1 = 6.0756 Egyptian pounds)

(Reporting by Mohamed Samir)



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