Pakistan plans to float sukuk bonds in global capital market

By MG News | January 18, 2022 at 11:09 AM GMT+05:00

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January 18, 2022 (MLN): Pakistan will soon issue a US dollar denominated benchmark 7-year Sukuk bonds in the international market, Bloomberg reported today.

According to the sources, Credit Suisse, Deutsche Bank, Dubai Islamic Bank, and Standard Chartered bank are the advisor to this issue.

Sharing views on the above development, Mohammad Sohail of Topline Securities said that with external account challenges and likely IMF deal, response on this Bond issue will be a key determinant of foreign investors view on Pakistan.

To recall, the government approved borrowing of $3 billion through Eurobond and sukuk in the current fiscal year. It already raised an additional debt of $1 billion in July through issuance of three-tranche Eurobond that had fetched $2.5 billion in March.

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