Thursday, 12 July 2007

Egypt sells 5-year local currency bond worth $1.1 bln

(Reuters) - Egypt sold $1.05 billion worth of a five-year bond payable in dollars but denominated in Egyptian pounds, lead managers said on Thursday.

The 6 billion Egyptian pound, 8.75-percent-coupon bond was priced at 99.504 and will pay investors a yield of 8.875 percent, in the lower range of the initial price guidance provided by the banks leading the deal, Citigroup and JP Morgan.


Read more at Reuters Africa

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