Egypt’s c. bank offers EGP16b T-bonds fixed coupon

The Central Bank of Egypt (CBE) will auction treasury bonds (T-Bonds) on Sunday with fixed coupon worth 16 billion Egyptian pounds, in coordination with the Ministry of Finance, according to a statement on its website.

The auctioned bonds are divided into two offerings. The first offering amounts at 16 billion pounds for a period of three years and the second offering is worth one billion pounds for five years.

A coupon is an annual interest paid on a bond. Investors receive a coupon payment, either annually or semi-annually, from issuance until maturity, if they hold the bond, according to DailyForex website.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama