Yield rises at Egypt 266-day treasury bill auction

Sunday 20 May 2012

Central bank sells LE4 billion of bonds, more than it had initially sought


The yield on 266-day Egyptian treasury bills rose at an auction on Sunday and the central bank raised more than it had asked for, the bank said on its website.
The average yield climbed to 15.863 per cent from 15.616 per cent at the last issue on 1 May. The bank sold LE4 billion ($578.8 million) worth of bonds instead of the LE3.5 billion it had initially sought.
The central bank sells the bills on behalf of the finance ministry.
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