Egypt sells 750M pounds in 9-month bills

Egypt sold three-month and nine- month treasury bills at an auction today, falling short of its fund-raising target for the nine-month securities.

The Arab country’s Ministry of Finance sold 750 million Egyptian pounds in nine-month notes, below its target of 3.5 billion pounds, at an average yield of 12.983 percent.

The yield on three-month bills rose to 12.095 percent, according to data posted on the ministry’s website.

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatallabloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedlerbloomberg.net