Cairo – Mubasher: Egypt’s Ministry of Finance is planning to visit the GCC countries in early February as part of a roadshow for a Eurobond issue.
The ministry will promote the bonds in the Gulf before visiting Hong Kong and Taiwan by the end of next month, according to a statement.
Two official sources previously told Reuters that Egypt, the most populous Arab country, was planning to issue Japanese yen-denominated bonds worth up to $2 billion for the first time this week.
Deputy finance minister Ahmed Kojak travelled to Japan last week after visiting Singapore with a delegate from J. B. Morgan Bank to promote for the bonds sale, the sources added.
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.
On Sunday, Egypt’s finance minister Mohamed Maait said that the Cabinet approved the issuance of Eurobonds worth $3 billion to $7 billion.
