Egypt is preparing to issue about $500 million in Samurai bonds in Japan, either later this month or by early June, Bloomberg reported, citing a government official. 

The move is part of efforts to diversify funding sources and lower borrowing costs, with Japanese banks already appointed to get the deal underway.

The issuance could help refinance around $420 million in Samurai debt maturing next fiscal year (FY26/27), while a further $520 million is due in FY 2028/29, smoothing Egypt’s debt repayment profile.

If completed, this would be Egypt’s third Samurai bond sale, after $500 million issuances in 2022 and 2023.

(Writing by Ahmad Mousa; editing by Seban Scaria)

Ahmad.mousa@lseg.com