On Sunday, two government sources said Egypt planned to issue $2 billion worth of Japanese yen-denominated bonds in the coming week and that proceeds from the issue of so-called Samurai bonds would be used to repay debts of state oil company Egyptian General Petroleum Corp (EGPC).

The finance ministry on Monday also said Egypt would complete a roadshow to promote its international bonds in February when it plans to visit Hong Kong, Taiwan and countries in the Gulf.

As part of the roadshow, Finance Minister Mohamed Maait visited Seoul in October.

The value of the issue on the Asian market would be limited because the purpose is to build a yield curve, the ministry said in a statement.