Egypt to offer 3.5bn Eg pounds in bonds

CAIRO: Egypt's Ministry of Finance will offer 3.5 billion Egyptian pounds ($579.6 million) in bonds at an auction on April 9, the central bank said on Monday.

It will offer 2 billion pounds in reopened three-year bonds maturing on April 3, 2015 with a coupon of 16.15 percent, and 1.5 billion pounds in five-year bonds maturing on April 10, 2017, the bank said.

Settlement for the bonds, which the central bank is selling on behalf of the ministry, is on April 10.