The Ministry of Finance will execute the 5-year bonds in Japanese Yen, according to the official statement by the cabinet
During its weekly meeting, the Egyptian Cabinet announced several decisions including the new issuance of Samurai bonds worth $500 million. The Ministry of Finance will execute the 5-year bonds in Japanese Yen, explained the official statement by the cabinet.
Samurai bonds are yen-denominated bonds issued in Tokyo by non-Japanese firms and run under Japanese regulations.
These bonds provide companies or governments with an opportunity to expand into the Japanese market without the usual currency risks of investing abroad as it is issued using Japan’s national currency, the yen. Japan also provides Shogun bonds, which are issued in foreign currencies.
This will be the 2nd time that Egypt will issue Samurai bonds. The Ministry of Finance previously issued Samurai bonds worth $500 million back in 2022, considered the first of their kind in Egypt and the Middle East.
The cabinet statement highlighted its previous success with the issuance and pointed out that it is aligned with the ministry’s efforts to diversify and expand into international markets.
The cabinet did not disclose when it would implement the issuance.
