CBE To Offer EGP 2.5 Bln Bonds

Central Bank of Egypt (CBE) will offer EGP 2.5 billion ($413.5 million) in reopened bonds at an auction on May 7.

It will offer 1.5 billion pounds in five-year bonds maturing on April 10, 2017, with a coupon of 16.55 percent, and 1 billion pounds in ten-year bonds maturing on April 3, 2022, with a coupon of 17 percent, the bank said.

Settlement for the bonds, which the central bank is selling on behalf of the ministry of finance, is on May 8.