Finance Ministry auctions EGP 7bn T-bonds

The Finance Ministry auctioned on Monday treasury bonds at a total value of EGP 7 billion.

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

A coupon of 12.645 percent was offered on the 3-year bonds (maturing in September 2018). The yield ranged from 12.60 percent to 12.699 percent.

It also sold 7-year bonds (maturing in August 2022) that had a coupon of 14.499 percent. The yield ranged from 14.4 percent to 14.560 percent.

Zero-coupon bonds (18-month maturity) were also sold in the auction at a 12.062 percent rate. The yield ranged from 11.990 percent to 12.100 percent.

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