According to Deputy Finance Minister Ahmed Kouchock, Egypt plans to issue its first panda bonds by the end of this fiscal year.

At a gathering at the American University in Cairo, Kouchouk said, “We are only waiting for the perfect moment.

Panda bonds are Chinese Yuan-denominated bonds that were issued by overseas lenders.

Earlier, the issuance was anticipated to be for $500 million, according to local media reports citing Finance Minister Mohamed Maait.

Reuters.