CBE To Offer EGP 3 Bln Reopened Bonds

The Central Bank of Egypt (CBE) will offer EGP 3 billion ($495 million) in reopened five-year and ten-year bonds at an auction on July 9.

CBE will offer 2 billion in reopened five-year bonds maturing on April 10, 2017 with a coupon of 16.55 percent, and EGP 1 billion in reopened ten-year bonds maturing on April 3, 2022 with a coupon of 17 percent.

Settlement for the bonds, which CBE is selling on behalf of the Ministry of Finance, is on July 10, Reuters reported.