Egypt sells LE2 billion worth of bonds at 16.2 pct

Ahram Online, Monday 4 Jun 2012

Egypt's central bank sold LE2 billion ($331 million) worth of three -year bonds on behalf of the Egyptian government on Monday with an average coupon rate of 16.21 per cent, the ministry of finance said on its website.

The lowest yield was 16.15 per cent, and the highest was 16.225 per cent. The last bond auction on 14 May saw average yields of 16.23 per cent.

Settlement for the bonds will take place on 5 June.

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