The Finance Ministry is preparing a slate of new international debt issuances for the second half of the current fiscal year, including panda bonds, samurai bonds, sustainable green bonds, and eurobonds, a senior government official told EnterpriseAM.

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The details: Egypt is set to issue debt instruments in international markets — including the London Stock Exchange — in February, the source said. The government plans to appoint investment banks, including Citibank and our friends at HSBC, to manage the offerings next month.

A USD 500 mn green bonds issuance? The government is awaiting the green light from the African Development Bank that it will guarantee a new sustainable bond framework and green samurai bonds worth USD 500 mn, the source added. The issuance would follow the repayment of USD 750 mn in maturing green bonds last October.

REMEMBER- The Finance Ministry aims to issue USD 4 bn worth of international debt during the current fiscal year, a government source told us earlier this year. Egypt tapped the international debt market in October with a USD 1.5 bn sovereign sukuk issuance — its third-ever and the first of the current fiscal year — following a USD 1 bn sovereign sukuk issuance in June that was fully subscribed by Kuwait Finance House.

Debt strategy coming soon: The Finance Ministry is gearing up to launch the public debt strategy next month. The strategy aims to bring public debt down to below 75% of GDP within three years, from 85% in the last fiscal year, while cutting debt servicing costs to 7% of GDP and extending debt maturity to five years.

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