{"id":543663,"date":"2022-02-13T04:04:51","date_gmt":"2022-02-13T04:04:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/egypt-seeks-guarantees-for-potential-samurai-bonds\/"},"modified":"2022-02-13T04:04:51","modified_gmt":"2022-02-13T04:04:51","slug":"egypt-seeks-guarantees-for-potential-samurai-bonds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/egypt-seeks-guarantees-for-potential-samurai-bonds\/","title":{"rendered":"Egypt seeks guarantees for potential Samurai bonds"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The Madbouly government wants our first Samurai bond issuance to be <\/strong><strong>fully guaranteed by <\/strong><strong>the Japan International Cooperation Agency (JICA)<\/strong> to ensure strong investor participation, <a href=\"https:\/\/bit.ly\/3LwkqwH\">Al Arabiya<\/a> reported on Thursday, citing sources it says has knowledge of the matter. Officials are currently discussing the matter with the agency, which has \u201cshown flexibility,\u201d according to the sources, who added that no final agreement had yet been reached.<\/p>\n<p><strong>Egypt aims to sell around USD 500 mn of JPY-denominated bonds in Japan by the end of June<\/strong> as part of its debt diversification strategy, Finance Minister Mohamed Maait said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51628974-be35-4f80-bb1a-b37a346a766d\">last month.<\/a> \u201cThe bond issuance will be in JPY, but the transfer currency can be in JPY or USD,\u201d Maait said.<\/p>\n<p><strong>Asian investors expect to see an Asian rating agency in play? <\/strong>Officials are in talks with Japanese government financial institutions over to concerns that investors may hesitate to put money in Egyptian bonds over credit ratings, the unidentified sources reportedly told Al Arabiya. While Egypt\u2019s sovereign credit rating generally has a stable outlook from the top three rating agencies (S&P Global, Moody\u2019s, and Fitch), Asian markets do not usually rely on them to assess bonds. Marketing foreign bonds in Asia is a different ball game and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9609fe5-7ebc-42ee-864a-41463c932a27\">requires new ratings assessments<\/a> by Asian agencies.<\/p>\n<p><strong>Background: <\/strong>The government had been mulling selling JPY-denominated bonds back in 2019, but Maait said in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c4b588c-29a4-4507-975f-ab354ac4cbf5\">late 2020<\/a> that the planned sales were being pushed until at least FY2021-2022 because of complications caused by the pandemic. Samurai bonds are issued in Tokyo by non-Japanese companies to access Japan\u2019s financial market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Madbouly government wants our first Samurai bond issuance to be fully guaranteed by the Japan International Cooperation Agency (JICA) to ensure strong investor participation, Al Arabiya reported on Thursday, citing sources it says has knowledge of the matter. Officials are currently discussing the matter with the agency, which has \u201cshown flexibility,\u201d according to the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":543664,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7274],"tags":[88,72,570,892,891,277],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseam","tag-japan","tag-jica","tag-madbouly-government","tag-mohamed-maait","wpautop","entry"],"acf":{"mongo_id":"18bfc87d-7721-43f1-af35-003a6015a137","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/2\/162.jpg","photo_position":"above","related_issue":[543653],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt seeks guarantees for potential Samurai bonds - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/egypt-seeks-guarantees-for-potential-samurai-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt seeks guarantees for potential Samurai bonds\" \/>\n<meta property=\"og:description\" content=\"The Madbouly government wants our first Samurai bond issuance to be fully guaranteed by the Japan International Cooperation Agency (JICA) to ensure strong investor participation, Al Arabiya reported on Thursday, citing sources it says has knowledge of the matter. Officials are currently discussing the matter with the agency, which has \u201cshown flexibility,\u201d according to the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/egypt-seeks-guarantees-for-potential-samurai-bonds\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-13T04:04:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/162.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/egypt-seeks-guarantees-for-potential-samurai-bonds\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/egypt-seeks-guarantees-for-potential-samurai-bonds\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt seeks guarantees for potential Samurai bonds\",\"datePublished\":\"2022-02-13T04:04:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/egypt-seeks-guarantees-for-potential-samurai-bonds\/\"},\"wordCount\":269,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/egypt-seeks-guarantees-for-potential-samurai-bonds\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/162.jpg?fit=%2C&ssl=1\",\"keywords\":[\"debt watch\",\"EnterpriseAM\",\"Japan\",\"JICA\",\"Madbouly Government\",\"Mohamed Maait\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/egypt-seeks-guarantees-for-potential-samurai-bonds\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/egypt-seeks-guarantees-for-potential-samurai-bonds\/\",\"name\":\"Egypt seeks guarantees for potential Samurai bonds - 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The issuance was announced by Finance Minister Mohamed Maait earlier this year, who said\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/311.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544893,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/27\/we-made-our-samurai-bond-debut-phd-closes-its-egp-3-25-bn-sukuk-offering\/","url_meta":{"origin":543663,"position":1},"title":"We made our Samurai bond debut + PHD closes its EGP 3.25 bn sukuk offering","author":"enterpriseam admin","date":"27 March 2022","format":false,"excerpt":"Egypt successfully closed its maiden Samurai bond issuance, selling USD 500 mn (c.JPY 60 bn) of the JPY-denominated bonds in Japan today, the Finance Ministry said in a statement Thursday. The ministry took the issuance to market despite the spillover from the Russian invasion of Ukraine, and the sale makes\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/357.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590005,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/12\/finmin-wants-to-raise-usd-3-bn-in-debt-by-the-end-of-2023-plus-quick-economic-update-from-maait\/","url_meta":{"origin":543663,"position":2},"title":"FinMin wants to raise USD 3 bn in debt by the end of 2023. PLUS: Quick economic update from Maait","author":"enterpriseam admin","date":"12 July 2023","format":false,"excerpt":"Egypt has only tapped the int\u2019l debt markets once since March 2022","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/447.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542938,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/budget-deficit-widens-to-3-9-in-1h2021-22\/","url_meta":{"origin":543663,"position":3},"title":"Budget deficit widens to 3.9% in 1H2021-22","author":"enterpriseam admin","date":"25 January 2022","format":false,"excerpt":"Egypt\u2019s budget deficit stood at 3.9% in 1H2021-2022, widening from 3.6% in the first half of last fiscal year, Finance Minister Mohamed Maait yesterday told Bloomberg Asharq. The figures continue a trend seen in the first quarter of the fiscal year, when the deficit widened y-o-y from 2.7% to 3.1%\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/322.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":608762,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/25\/cabinet-renews-upcoming-samurai-issuance-approval-renewable-energy-decisions\/","url_meta":{"origin":543663,"position":4},"title":"Cabinet renews upcoming Samurai issuance approval, renewable energy decisions","author":"enterpriseam admin","date":"25 October 2023","format":false,"excerpt":"The Finance Ministry is prepping a USD 500 mn JPY-denominated bond issuance for next month","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1249.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577890,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/sovereign-sukuk-sustainable-bond-issuances-coming-this-fy\/","url_meta":{"origin":543663,"position":5},"title":"Sovereign sukuk + sustainable bond issuances coming this FY?","author":"enterpriseam admin","date":"8 December 2022","format":false,"excerpt":"FinMin could take its maiden sovereign sukuk issuance to market in 1H 2023: The Finance Ministry is planning to sell USD 1.5-2.5 bn of sukuk, a shariah-compliant debt instrument, Finance Minister Mohamed Maait told Reuters yesterday. The timing of the issuance is still undetermined and the ministry will pull the\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/155.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=543663"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543663\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/543653"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/543664"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543663"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543663"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}