Yields dip at sale of 7-year Egypt bonds

CAIRO: Egypt's central bank sold 1 billion Egyptian pounds ($165.7 million) in reopened seven-year bonds at an auction on Monday, the same amount it had originally sought, the finance ministry said on its website.

Yields on the bonds ranged from 16.83 to 16.9 percent, with an average yield of 16.88 percent, down from 16.91 percent at an auction of seven-year bonds on March 5.

The bonds mature on Oct. 25, 2018, and carry a 14.5 percent coupon.

Settlement will take place on March 20.