Cabinet announces upcoming issuance of Samurai bonds

Egypt is set to issue a new round of Samurai bonds, according to a cabinet statement earlier today.

During the meeting, the cabinet issued several decisions including the new issuance of Samurai bonds worth $500 million, with the Ministry of Finance to execute the 5-year bonds on an undisclosed date.

This will be the second time that Egypt will issue Samurai bonds, having previously issued Samurai bonds worth $500 million back in 2022, considered the first of their kind in Egypt and the Middle East.

The Samurai bonds are yen-denominated bonds issued in Tokyo by non-Japanese firms and run under Japanese regulations, enabling companies and governments to expand into the Japanese market without the usual currency risks of investing abroad due to being issued with the national currency.

In an official statement, the cabinet highlighted Egypt’s previous success with the issuance and pointed out that it is aligned with the ministry’s efforts to diversify and expand into international markets.