February 1, 2022: The government of Pakistan has successfully raised $1 billion through the issuance of International Sukuk. The transaction generated great interest as leading global investors from Asia, Middle East, Europe and the US participated in the order book, said a press release issued on Tuesday.
The transaction's success is a testimony to the investors’ confidence in the country’s economic revival and long-term stability and growth.
The response was overwhelmingly strong and the order books were oversubscribed (peaked at $2.7bn) consisting of orders from high-quality investors. After careful consideration, the Government decided to raise $1bn, it noted.
This is the first issuance under the government’s newly established ‘Trust Certificate Issuance Programme’ and the first time that Government has issued International Sukuk with a 7 Year maturity. The program will allow Pakistan to tap the market at short notice. The Government intends to make full use of this program and become a regular issuer of Sukuk in the International Capital Markets.
The information contained in this press release is for information purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this press release or its accuracy or completeness.
