Egypt’s Finance Minister Mohamed Maait said Egypt has managed to make a comeback to international markets with the second issuance of the Japanese yen-denominated Samurai bonds worth at 75 billion Japanese yen; equivalent to $0.5 billion.
This step aims to diversify funding, cut cost of foreign debts and increase the categories of international investors to overcome economic challenges promoted by the latest geopolitical tension.
Egypt, which has become the first country in the Middle East region to issue yen bonds, also succeeded in issuing 3.5 billion yuan-denominated green bonds (panda bonds), equivalent to 500 million dollars, in the Chinese market less than two weeks ago, he said.
Egypt’s issuance of Samurai bonds in the Japanese markets drew attention of many Japanese investors and this reflects their confidence in the Egyptian economy.
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