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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

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)

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