Egypt’s Ministry of Finance will offer 3.5 billion Egyptian pounds ($578 million) in bonds at an auction on July 2, the central bank said on Monday.

It will offer 1.5 billion pounds in reopened seven-year bonds maturing on April 3, 2019 with a coupon of 16.85 percent, and 2 billion pounds in three-year bonds maturing on July 3, 2015, the bank said.

Settlement for the bonds, which the central bank is selling on behalf of the ministry, is on July 3, according to Reuters.