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Egypt to sell $500m in T-bonds to Saudi

Riyadh, May 21, 2012

Egypt has agreed to sell $500 million in treasury bonds to Saudi Arabia in an agreement signed on Sunday, Planning Minister Faiza Abu el-Naga said on Monday.

The bonds are part of a package of financial support promised by Saudi Arabia a year ago. As part of the package, Riyadh earlier this month transferred $1 billion as an eight-year deposit at Egypt's central bank, Abu el-Naga said at the time.

Speaking at a new conference on Monday, she did not give the maturities of the bonds or say when they would be sold.-Reuters




Tags: Egypt | Saudi | bonds |

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