Egypt plans to issue $6B Eurobonds in FY 2022/2023

Egypt is planning to issue Eurobonds worth around $5 billion to $6 billion during fiscal year (FY) 2022/2023, an informed government source told Asharq Business on August 14th.

It is worth mentioning that the North African country is seeking to secure external financing of around EGP 146.4 billion as per the FY 2022/2023 budget, compared to an expected sum of about EGP 78.4 billion in the previous FY budget.

On August 11^th, Bloomberg reported that the Egyptian government was in preliminary talks with regional and international banks over raising a $2.5 billion loan amid intensive economic pressures.

In March, Egypt issued Samurai bonds, for the first time, at a value of $500 million, equivalent to JPY 60 billion.

Source: Arab Finance