Inside Financial Markets

PAKISTAN LAUNCHES USD2BN EuroBond – IFR

euro bondPAKISTAN LAUNCHES USD2BN TWO-PART BOND – IFR

LONDON, April 8 (IFR) – The Islamic Republic of Pakistan is set to raise USD2bn through its upcoming issue of five- and 10-year bonds.

The sovereign, rated Caa1/B- by Moody’s/S&P, has launched a USD1bn five-year tranche at the final yield of 7.25% and a 10-year portion at 8.25%.

Final terms came at the tight end of revised guidance of 7.25%-7.375% for the five-year note and of 8.25%-8.375% for the 10-year note and tight to initial price thoughts of mid-7% and mid-8% respectively released on Monday.

Barclays, Bank of America Merrill Lynch, Citigroup and Deutsche Bank are the lead managers on the 144A/Reg S issue, which is expected to price later on Tuesday.

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)