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Egypt sells 5- and 10-year bonds worth 3 bln Egyptian pounds
Wednesday 22-10-2014 09:30 AM
A trader watches his monitor at the Egyptian stock exchange in Cairo April 1, 2014. REUTERS/Mohamed Abd El Ghany
CAIRO (Reuters) - Egypt's central bank sold 3 billion Egyptian pounds ($419.58 million) worth of 5- and 10-year bonds on Tuesday, state newspaper al-Ahram reported.
The 5-year bonds, totalling 2 billion pounds, mature in October 2019. They were sold at an average yield of 14.546 percent.
The 10-year bonds, totalling 1 billion pounds, were sold at an average yield of 15.84 percent.
Government bonds are sold by the central bank on behalf of the finance ministry. (1 US dollar = 7.1500 Egyptian pound) (Reporting By Omar Fahmy; Editing by Larry King)
