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Egypt Plans to Raise $4bn in Offshore Bonds Over the Next 12 Months
July 21, 2025
Egypt plans to raise $4bn via offshore bonds over the course of the next 12 months in order to diversify funding and support economic reforms. This comes following its worst financial situation in decades. Finance Minister Ahmed Kouchouk said that the issuance could include EUR, USD, JPY, RMB-denominated, sustainability bonds and sukuk covering about 40% of Egypt’s estimated $11bn external financing gap for the current fiscal year. The remainder may come from concessionary loans.
Egypt also plans to issue local currency denominated sukuk and retail bonds to deepen domestic markets. Structural reforms, including a $35bn investment deal with the UAE, currency devaluation, and privatization efforts are being aimed at to secure further IMF funding. About $2.4bn in IMF loans is expected if Egypt passes its upcoming program reviews. A deal with the IMF is expected by September or October. Advanced talks are also underway with Kuwait and Qatar for multibillion-dollar investment packages. Moreover, Egypt is also trying to attract foreign capital, including talks with Euroclear to ease foreign access to local-currency bonds and a bid to re-join JPMorgan’s local bond indices.
Egypt’s dollar bonds are trading with a positive bias, higher by ~0.3 points across the curve. Its 7.3% 2033s are currently trading at 88.3, yielding 9.4%.
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