Panda Bonds
Furthermore, Gupta indicated ongoing discussions between the AFC and the Egyptian government regarding potential funding channels
Maait explained that the bond issuances reflect the country’s ability to diversify financing sources and tools, despite global economic challenges resulting from geopolitical tensions, and its eagerness to expand its base of international investors
The cabinet also ratified the procedures for the issuance of sovereign and sustainable Panda bonds in the Chinese market
The ministry managed to secure the issuance at a competitively low pricing, offering a favorable annual return of 3.5% over a three-year period.
Maait revealed that the new group of Panda bonds will be worth $500 million, but did not disclose further details on a set date
Egypt is considered the first African country to issue panda bonds on the Chinese market and it plans to raise the equivalent of $500 million.
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