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Mon 23 Feb 2009 08:47 PM

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Egypt sells bonds worth $535.6m at latest auction

Central bank accepts offers worth 3bn pounds at auction for tranche of 3-year bonds.

The Egyptian central bank said on Monday it has accepted offers worth 3 billion Egyptian pounds ($535.6 million) in an auction for reopened 3-year bonds.The first tranche of the bonds, also worth 3 billion pounds, was issued on January 13.

It accepted offers between 10.73 and 10.89 percent.

The bank, acting on behalf of the ministry of finance, invited offers for 3 billion pounds at Monday's auction.

The bonds will be issued on February 24. They carry a coupon of 12 percent and are due to mature on January 13, 2012. (Reuters)

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