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Wednesday, 19 June 2019

Egypt considers KRW-denominated bond issuance

Egypt considers KRW-denominated bond issuance: The Madbouly government is considering issuing bonds denominated in South Korea;s KRW, Deputy Finance Minister for Capital Market Operations Khaled Abdelrahman told Reuters. The issuance would join Yuan-denominated (insensitively called “Panda”) bonds and Yen-denominated “Samurai” (Samurais are cool) bonds as possible options for an Asian FX bond issuance in the next fiscal year that starts in July. “We are looking at either a Panda, Samurai or Korean currency issuance,” Abdelrahman said. The Finance Ministry stated in April its intention to issue yen and yuan-denominated bonds in an attempt to diversify borrowing sources as part of its new debt strategy.

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