CAIRO: Egypt’s central bank sold half the number of reopened three- and five-year bonds that it offered at an auction on Monday, and the yield ranges on the instruments crept higher from those at the last auction two weeks earlier.
The bank said it sold LE 1 billion ($165.77 million) of reopened three-year bonds that mature on Jan. 17, 2015, and carry a 16.15 percent coupon. The yield ranged from 16.18 to 16.42 percent.
The yield at an auction of the same three-year bonds two weeks ago was 15.96 to 16.35 percent.
The bank also sold also LE 1 billion of reopened five-year bonds that mature on Jan. 17, 2017, and carry a coupon of 16.35 percent. The yield ranged from 16.6 to 16.75 percent.
The yield at an auction of the same five-year bonds two weeks ago was 16.20 to 16.69 percent.
The central bank, which sells the bonds on behalf of the Finance Ministry, had offered 2 billion pounds of each maturity.
Settlement will take place on Jan. 31.