Egypt plans to issue first panda bonds current FY-end

Egypt aims to issue its first panda bonds by the end of this financial year, its Deputy Finance Minister Ahmed Kouchouk announced on Sunday.

“We are just waiting for the right moment,” Kouchouk said an event at the American University in Cairo.

Panda bonds are bonds denominated in Chinese yuan, yet they are issued by foreign borrowers.

Earlier, Finance Minister Mohamed Maait told reporters that the issuance is expected to be at $500 million.