Cairo – Mubasher: Egypt-based Golden Pyramids Plaza Company issued the first tranche of the third issuance bond programme at a value of $36.4 million.

The sale was implemented through banks, foreign financial institutions, and firms with experience and solvency, Golden Pyramids said in a statement to the Egyptian Exchange (EGX) on Monday.

At a par value of $100, the bonds are non-convertible and aren’t bound to any securities exchange, the statement added.

With 8% yield, the new bond issue will be matured after redeeming all installments and interests of the second bond sale, the EGX-listed firm said. 

Golden Pyramids’ capital amounts to $577.59 million distributed over 577.59 shares with a par value of $1 per share.