Minister of Finance Ibrahim Ameer has announced the administration has planned to sell a samurai bond of USD 300 million to Japan.
Minister Ameer stated the bond money will be incorporated into the anticipated budget deficit in 2020. He noted that the bond is issued at 0.75% rate but when guarantee fees and management fees are included the amount may increase.
The USD 300 million to be accumulated as a whole but obtained in three tranches and each to be paid back within eight, nine and ten years respectively.
Ministry of Finance has announced that Japan Bank for International Cooperation (JBIC) would guaranteed the samurai bond which is subjected to Japanese regulations.
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