Egypt sells 3-year bonds worth 2bn EGP

CAIRO: Egypt's central bank sold 2 billion Egyptian pounds ($331 million) of reopened three-year bonds carrying a coupon of 16.15 percent, the finance ministry said on Monday.

The average yield was 16.21 percent, lower than the 16.23 percent yield registered at a sale of reopened three-year bonds on May 14. Yields ranged from 16.15 to 16.225 percent.

Settlement for the bonds will take place on June 5.

Government bonds are sold by the central bank on behalf of the Ministry of Finance.