Egypt To Offer 3.5 Bln EGP In Reopened Bonds

Egypt’s Ministry of Finance will offer 3.5 billion Egyptian pounds ($577.8 million) in reopened three-year and seven-year bonds at an auction on July 16, the central bank said on Monday.

It will offer 2 billion pounds in reopened three-year bonds maturing on July 3, 2015 with a coupon of 16.15 percent, and 1.5 billion pounds in reopened ten-year bonds maturing on April 3, 2019 with a coupon of 16.85 percent, the bank said.

Settlement for the bonds, which the central bank is selling on behalf of the ministry, is on July 17. ($1 = 6.0572 Egyptian pounds)

source reuters.