ECP cancels auctions of 3 and 5-year bonds
Cairo - Agencies
Egypt's central bank cancelled three-year and five-year re-opened bond auctions worth LE 5 billion ($829 million), the Ministry of Finance said on Monday. The bank auctions the instruments on behalf of the ministry, which had offered LE 3 billion of the three-year notes and LE 2 billion of the five-year. The three-year bond had a 14 per cent coupon and the five-year bond a 14.25 per cent coupon. The central bank gave no reason for the cancellation.
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