Egypt To Offer Bonds Worth 5 Bln EGP

Egypt’s Ministry of Finance will offer 5 billion Egyptian pounds ($822.856 million) in three-year, five-year and ten-year bonds at an auction on Aug. 13, 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, 2 billion pounds in five-year bonds maturing on Aug. 14, 2017 and 1 billion pounds in reopened ten-year bonds maturing on April 3, 2022 with a coupon 17 percent, the bank said.

Settlement for the bonds, which the central bank is selling on behalf of the ministry, is on Aug. 14.

Reuters