Egypt to offer LE 2.5 bln in reopened bonds

By Mohamed Samir / Reuters CAIRO: Egypt’s Ministry of Finance will offer LE 2.5 billion ($414.1 million) in reopened bonds at an auction on April 23, the central bank said on Tuesday. It will offer LE 1.5 billion in reopened five-year bonds maturing on April 10, 2017 with a coupon of 16.55 percent, and LE …

By Mohamed Samir / Reuters

CAIRO: Egypt’s Ministry of Finance will offer LE 2.5 billion ($414.1 million) in reopened bonds at an auction on April 23, the central bank said on Tuesday.

It will offer LE 1.5 billion in reopened five-year bonds maturing on April 10, 2017 with a coupon of 16.55 percent, and LE 1 billion in ten-year bonds maturing on April 3, 2022 with a coupon of 17 percent, the bank said.

Settlement for the bonds, which the central bank is selling on behalf of the ministry, is on April 24.