Egypt Exceeds Goal at Auction of One-Year Euro Treasury Bills

Egypt sold 513 million euros of one- year treasury bills in the first offering of euro-denominated domestic debt, exceeding its goal of 400 million euros, according to an e-mailed statement from the central bank.

The country sold the notes at an average yield of 3.245 percent, according to the statement. That compares with the 3.05 percent average forecast of nine fixed-income traders and analysts surveyed by Bloomberg. Foreign investors bought 20 percent of the amount sold, the regulator said.

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

To contact the editor responsible for this story: Digby Lidstone at dlidstone@bloomberg.net

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