01242017Tue
Last update: Tue, 24 Jan 2017 03am

Middle East & Africa

Markets - Fixed Income - Middle East & Africa

Iraq announces sale of $1bn in bonds guaranteed by US BAGHDAD: Iraq announced the sale of $1 billion in bonds guaranteed by the United States, paying an interest of 2.1 percent, far below the 9 percent yield on the country's non-guaranteed debt. The US-guaranteed five-year bonds were issued on Wednesday, the finance ministry said in a statement on Sunday. The Iraqi government, which relies almost exclusively on oil income, has struggled to pay its bills since crude prices dropped in 2014, the same year that Islamic State militants seized a third of the country's territory. The Iraqi government in November said it plans to issue $2 billion worth of bonds on international markets to help narrow its budget deficit in 2017. The bonds will be sold in two equal tranches of one billion dollars each, one of them with a US guarantee that would reduce its cost of borrowing, it said. Iraq has a speculative rating of B/B- from both ...

Markets - Fixed Income - Middle East & Africa

Yields ease on Egypt's three, nine-month T-bills in weekly auction CAIRO: Yields on Egypt's three- and nine-month treasury bills eased at an auction on Sunday, central bank data showed. Yields on the 91-day bill fell to an average of 18.889 percent from 19.155 percent at the previous auction. Yields on the 273-day bill fell to 19.858 percent from 19.924 percent at a similar auction. Copyright Reuters, 2017 ...

Markets - Fixed Income - Middle East & Africa

Yields rise on Egypt's three, nine-month T-bills in weekly auction CAIRO: Yields on Egypt's three- and nine-month treasury bills rose at an auction on Thursday, central bank data showed. Yields on the 91-day bill rose to an average of 19.155 percent from 19.036 percent at the previous auction. Yields on the 266-day bill rose to 19.924 percent from 19.411 percent. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Uganda's 91-day Treasury bill yield edges down KAMPALA: The yield on Uganda's benchmark 91-day Treasury bills edged down at an auction on Wednesday where a total of 160 billion shillings ($44.94 million) worth of debt was on offer, the central bank said.The rate on the 91-day Treasury bill declined to 14.000 percent, from 14.118 percent at the previous sale on Nov. 25. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Nigeria sells more treasury bills after bond auction disappoints LAGOS: Nigeria's central bank sold more treasury bills than it offered at an auction this week, it said on Friday, to mop up liquidity after the debt office cut the size of a domestic bond sale in view of its high borrowing costs. The central bank raised 147.48 billion naira ($484 mln) at a treasury bill sale on Wednesday, higher than the 83.24 billion naira it originally advertised, and yields remained unchanged at the auction. ...

Markets - Fixed Income - Middle East & Africa

Nigeria to sell 83bn naira in treasury bills next week LAGOS: Nigeria plans to sell 83.24 billion naira ($264.25 million) in short-dated treasury bills at an auction on Dec. 22, the central bank said on Tuesday. The bank said it will sell 28.12 billion naira in three-month papers and 55.12 billion naira in six-month bills, using the Dutch Auction system. Payment would be made the day after the auction. Nigeria issues treasury bills to fund its budget deficit, manage banking system liquidity and curb rising ...

Markets - Fixed Income - Middle East & Africa

Yields rise at Egypt six-month, one-year T-bond auction CAIRO: The average yields on Egyptian six-month and one-year treasury bills rose at an auction on Thursday, central bank data showed. The 182-day treasury bills rose to 18.258 percent from 17.716 percent at the previous auction, and the yield for the 364-day treasury bills rose to 18.034 percent from 17.606 percent in a similar auction. Copyright Reuters, 2016 ...