Egypt’s central bank said on Monday it sold 3-year bonds alongside reopened 7-year bonds worth a total LE 4 billion ($688 million).
It sold LE 3 billion of three-year bonds that mature on Jan. 18, 2014, and have a 11.63 percent coupon. The effective yields at Monday’s auction ranged from 11.5 to 11.69 percent.
It also sold LE 1 billion of reopened seven-year bonds that mature on Feb 16, 2017, and have a 12.6 percent coupon, with effective yields ranging from 12.65 to 12.84 percent.
Settlement will take place at Jan. 25.
Government bonds are sold by the central bank on behalf of the Finance Ministry.