CAIRO: Egypt’s central bank sold only half the reopened five-year bonds it offered at an auction on Monday and none of the reopened seven-year bonds, the Finance Ministry said on its website.
The bank had asked for LE 2 billion ($331.5 million) of the five-year bonds, but trimmed the sale to LE 1 billion. The yields on the bonds ranged from 16.65 to 16.85 percent, up from 16.6 to 16.75 percent at an auction a week earlier.
The bonds mature on Jan 17, 2017 and carry a 16.35 percent coupon.
The bank declined to sell any of the reopened seven-year bonds it had offered at the auction. The bonds mature on Oct. 25, 2018, and carry a 14.50 percent coupon. The bank asked for LE 1 billion.
The central bank, which sells the bonds on behalf of the Finance Ministry.
Settlement will take place on Feb 7.
