Finance Ministry approaches Japan for guarantee on Yen-dominated bond issuance
The Ministry of Finance has asked the Japanese Bank for International Cooperation (JBIC) for a guarantee on Yen-dominated bonds, according to Samy Khalaf, Head of Treasury at the Ministry. The Ministry is due to receive a response before the end of the Japanese fiscal year – which ends in March – to determine the issuance maturity and the interest rates, he added. The Minister, Amr Al Garhy, has announced that it is considering international bond issuances in currencies including the Japanese Yen and Chinese Yuan, but said that it is too early to decide when Egypt might next go to the debt market and the amount it would seek to borrow. (Al Borsa, Reuters)
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