Cairo – Mubasher: Egypt is looking to issue Japanese yen-denominated bonds worth up to $2 billion for the first time this week, two official sources said.
Deputy finance minister Ahmed Kojak has travelled to Japan last week after visiting Singapore with a delegate from J. B. Morgan Bank to promote for the bonds sale, Reuters reported, citing one of the sources.
The bonds sale will take place immediately right after the completion of the roadshow and the arrangers of the issuance will be selected in a bid, the source said.
Last week, a government source revealed that the Egyptian finance ministry had received the Cabinet's approval to begin the procedures of the bonds sale.
In September, finance minister Mohamed Maait said that Egypt was considering the possibility to issue Japanese Yen and Chinese Yuan-denominated bonds ranging between $4-7 billion.
