الرئيسية
CAIRO, Dec 26 (Reuters) - Egypt's Finance Ministry
will offer 5 billion Egyptian pounds ($830.23 million) in three-
and five-year bonds at an auction on Jan. 2, the central
bank said on Monday.
Yields on Egyptian government debt have soared this month to
their highest in years as the government struggles to finance a
growing budget deficit.
Local banks have nearly exhausted their liquidity and
political turmoil has scared off foreign investors. Investors
did not take up the full amount offered at the government's last
three bond auctions.
The central bank will offer 3 billion pounds of the
three-year bonds, which mature on Jan 3, 2015, and 2 billion
pounds of the five-year bonds which mature on Jan 3, 2017.
The central bank is acting on behalf of the Finance
Ministry. Settlement is on Jan. 3, 2012.
($1 = 6.0224 Egyptian pounds)
(Reporting by Mohamed Samir)
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will offer 5 billion Egyptian pounds ($830.23 million) in three-
and five-year bonds at an auction on Jan. 2, the central
bank said on Monday.
Yields on Egyptian government debt have soared this month to
their highest in years as the government struggles to finance a
growing budget deficit.
Local banks have nearly exhausted their liquidity and
political turmoil has scared off foreign investors. Investors
did not take up the full amount offered at the government's last
three bond auctions.
The central bank will offer 3 billion pounds of the
three-year bonds, which mature on Jan 3, 2015, and 2 billion
pounds of the five-year bonds which mature on Jan 3, 2017.
The central bank is acting on behalf of the Finance
Ministry. Settlement is on Jan. 3, 2012.
($1 = 6.0224 Egyptian pounds)
(Reporting by Mohamed Samir)
RELATED CONTENT