Advertisement
| 14 November, 2017

Egypt c.bank reaches terms for $3.1bln repurchase transaction with global banks

Image for illustrative purpose.
Traders work at the Egyptian stock exchange in Cairo.

Image for illustrative purpose. Traders work at the Egyptian stock exchange in Cairo.

REUTERS/Mohamed Abd El Ghany

Egypt's Central Bank has reached terms for a one-year $3.1bln repurchase agreement with international banks.

CAIRO - Egypt's Central Bank has reached terms for a one-year $3.1 billion repurchase agreement with international banks after paying back the same consortium of banks a similar $2 billion agreement last week, it said in a statement on Tuesday.

It said the transaction was provided by the banks against most of the amount of newly issued Egyptian dollar-denominated sovereign bonds with maturities of December 2018, November 2024 and November 2028.

(Reporting by Eric Knecht; Editing by Peter Graff) ((eric.knecht@thomsonreuters.com; +20 2 2394 8102; Reuters Messaging: eric.knecht.thomsonreuters.com@reuters.net))