Cairo – Mubasher: The Egyptian finance ministry has canceled two tenders to sell bonds with maturity of three and eight years, as reported by Reuters.

The cancelled tenders are valued at EGP 3.5 billion, Reuters added.

The tenders were cancelled because of requesting higher interest from banks and investors.

The banks’ offers for the two tenders ranged from 18% to 18.5%, Reuters said, according to bankers.