Cairo – Mubasher: Egypt’s plan to close the financing gap during fiscal year 2018/2019 does not include the issuance of panda-bonds or Samurai-bonds, an official source said.
The government is considering a raft of financing sources in the medium term within the framework of its scheme to cut general debt, including Chinese and Japanese bonds that Egypt may go for it in the coming period as a low-cost financing alternative, Enterprise reported, citing the source.
The source expected that the issuance of Chinese renminbi-denominated bonds and the yen-denominated bonds will not take place this fiscal year due to the incomplete procedures of the issuance, as well as not obtain the due approvals.
The North African nation is projected to issue the anticipated Eurobonds worth $5 billion in February or March 2019, the source stressed.
Egyptian finance minister Mohamed Maait previously said that the North African nation would return to the international bonds market in the right time, possibly the period from January to March 2019.
