Explainer: Eurobonds resume in Pakistan

Pakistan is issuing Eurobonds after 3.5 years but why now?

KARACHI: Pakistan is issuing US dollar denominated Eurobonds for the first time since November 2017, when it raised $1 billion through a 5 year Sukuk and $1.5 billion through a 10 year conventional bond.

Going forward, Pakistan plans on raising $500 million through a green note to develop its hydroelectric power.

It is likely that Pakistan will float $2billion Eurobonds, or a triple tranche US dollar denominated bond sale in the next few days following a $6 billion bailout programme with the International Monetary Fund (IMF).

The Ministry of Finance had been arranging investor calls through banks, while April 6, 2021, is the expected settlement date. As per sources, Deutsche Bank AG, JPMorgan Chase & Co., Credit Suisse Group AG, Standard Chartered Plc, and Emirates NBD Bank PJSC have been hired for the purpose of raising capital by the government. 

Bid information

 

To read the full article, subscribe and support independent business journalism in Pakistan

The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account.

Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.

(Already a subscriber? Click here to login)
  • Full Price Subscription Plans

    Not only will you be supporting independent journalism, 25% of the amount from your subscription will be used to subsidise those subscribers who cannot afford the full price of the subscription. As a subscriber you will get full access to exclusive paywalled content, and an ad free reading experience. Yearly full price subscription plans also include a complimentary annual subscription to The Wall Street Journal.

    +

  • Subsidised Subscription Plans

    Pay part of the full subscription price, if you cannot afford to pay all of it, and the rest will be subsidised by a full paying subscriber. As a subscriber you will get access to exclusive paywalled content, and an ad free reading experience.

  • Free Student Subscriptions

    If you are currently a student, you can claim an already-paid-for digital subscription, courtesy

    As a subscriber you will get access to exclusive paywalled content, an ad free reading experience.

     

 

Ariba Shahid
Ariba Shahid
The author is a business journalist at Profit. She can be reached at [email protected] or at twitter.com/AribaShahid

Must Read