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Egypt to issue international bonds worth $6 billion

An Egyptian man walk in front of currency exchange shop in Cairo. (AFP)
By TRENDS Desk
August 15, 2022 9:02 am
  • Egypt offered $500 million worth international bonds for the first time denominated in the yen in the Japanese market
  • Egypt plans to obtain external financing by about $7.62 billion, which means an increase in the volume of external financing by about 87 percent over last year

More than a year after it issued bonds worth $500 million for the Japanese market, Egypt intends to issue another tranche of international bonds worth $6 billion this year, according to media reports quoting a government official.

In March last year, Egypt offered $500 million worth international bonds for the first time denominated in the yen in the Japanese market.

In the 2022-2023 budget, Egypt plans to obtain external financing by about $7.62 billion, which means an increase in the volume of external financing by about 87 percent over last year.

 

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