Egyptian Finance Ministry auctions T-bonds

The Finance Ministry auctioned on Monday treasury bonds at a total value of EGP 6.75 billion.

In an online statement, the ministry said it sold EGP 3 billion of 3-year, EGP 1.75 billion of 7-year and EGP 2 billion of zero-coupon treasury bonds.

A coupon of 12.985% was offered on the 3-year bonds (maturing in June 2018). The yield ranged from 12.9% to 13.03%.

It also sold 7-year bonds (maturing in February 2022) that had a coupon of 14.708%. The yield ranged from 14.68% to 14.729%.

Zero-coupon bonds (18-month maturity) were also sold in the auction at a 12.312% rate. The yield ranged from 12.279% to 12.34%.

The Central Bank of Egypt auctions T-bonds on behalf of the Finance Ministry.