Egypt to offer LE 1 bln in reopened 7-year bonds

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CAIRO: Egypt’s Finance Ministry will offer LE 1 billion ($165.81 million) in reopened seven-year bonds at an auction on Jan. 9, the central bank said on Monday.

Yields on Egyptian treasury debt have soared to their highest in years as the government struggles to finance a growing budget deficit.

It said the bonds mature on Oct. 25, 2018. They carry a coupon of 14.5 percent and settlement will take place on Jan. 10. The bank is acting on behalf of the Finance Ministry.



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