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Thursday, 21 November 2019

Egypt to sell $500 million in treasury bonds to Saudi Arabia

Bonds will be part of a financial support package promised by the Kingdom last year, says planning minister

Reuters, Monday 21 May 2012
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Egypt has agreed to sell $500 million in treasury bonds to Saudi Arabia in an agreement signed on Sunday, Planning Minister Fayza Abu El-Naga said on Monday.

The bonds are part of a package of financial support promised by Saudi Arabia a year ago. As part of the package, Riyadh earlier this month transferred $1 billion as an eight-year deposit at Egypt's central bank, Abu El-Naga said at the time.
 
Speaking at a new conference on Monday, she did not give the maturities of the bonds or say when they would be sold. 
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