Egypt C.Bank Cancels Auctions Of 3-, 5-Year Bonds
The central bank gave no reason for the cancellation
January 3, 2012 7:51 by Reuters
Egypt’s central bank cancelled three-year and five-year re-opened bond auctions worth 5 billion
Egyptian pounds ($829 million), the Finance Ministry said on Monday.
The bank auctions the instruments on behalf of the ministry, which had offered 3 billion pounds of the three-year notes and 2 billion pounds of the five-year.
The three-year bond had a 14 percent coupon and the five-year bond a 14.25 percent coupon.
The central bank gave no reason for the cancellation. (Reporting by Mohamed Samir)