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Egypt Dollar Bonds Gain a 2nd Day Before Presidential Vote Date

Feb. 29 (Bloomberg) -- Egypt government’s dollar bonds rose, sending the yield down for the second day, before the announcement of a timetable for presidential elections.

The yield on the 5.75 percent notes due April 2020 declined three basis points, or 0.03 percentage point, to 6.93 percent, the lowest level since Jan. 27, at 4:31 p.m. in Cairo, according to data compiled by Bloomberg.

The Supreme Committee for Presidential Elections is due to provide an election schedule today, after last year’s ouster of Hosni Mubarak.

The pound was little changed at 6.0312 a dollar. Five-year credit default swaps rose five basis points to 614, according to data provider CMA, which is owned by CME Group Inc. and compiles prices quoted by dealers in the privately negotiated market.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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