Pakistan Raises $3 Billion Through Dual-Tranche Eurobond Sale

Pakistan has raised $3 billion through a dual-tranche Eurobond sale, securing what its Finance Ministry called the country’s largest single international capital-markets transaction.

Investor demand nearly doubled the amount issued. The ministry said the sale attracted almost $6 billion in orders from a broad and diversified group of institutional investors across global markets and continents.

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The transaction attracted nearly $6bn in orders, almost twice the amount issued, from a broad and diversified base of institutional investors across global markets and continents.

The transaction consists of $1.75 billion in bonds maturing in 5.5 years, carrying a 7.5% coupon, and $1.25 billion in 10-year bonds with a 7.9% coupon.

The Finance Ministry described the sale as “a major milestone in Pakistan’s renewed and increasingly diversified access to international capital markets.” It said the result demonstrated investor confidence and the country’s ability to obtain funding on a large scale.

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The successful transaction marks a major milestone in Pakistan’s renewed and increasingly diversified access to international capital markets, demonstrating strong investor confidence and Pakistan’s ability to access global funding markets at significant scale.