CAIRO: Egypt's central bank sold 3 billion Egyptian pounds ($495.3 million) in five and ten-year bonds on Monday, the same amount it had initially sought, the central bank of Egypt said.
The bank sold 2 billion pounds of the reopened five-year bonds and 1 billion pounds of the reopened ten-year bonds.
The coupon for the five-year bonds was 16.55 percent and yields ranged from 16.52 percent to 16.61 percent. The ten-year coupon was 17 percent, with yields from 16.95 to 17.045 percent.
Settlement for the bonds will take place on July 10. Government bonds are sold by the central bank on behalf of the Finance Ministry.
Egypt's uprising hammered the economy by chasing away tourists and foreign investors. The state's interim government has gone through more than half of the country's foreign reserves and has been for months been negotiating a loan deal with the from the International Monetary Fund (IMF).
The state's economy contracted by 4.3 percent in the first quarter of 2011 and flat-lined in the following three quarters.
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