Pakistan to Issue Tender for Eurobond on Monday

MG News | October 15, 2017 at 06:07 PM GMT+05:00

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ISLAMABAD, Oct 15 (MLN): According to sources in the financial sector, the Government is planning on issuing the Tender for Eurobond on Monday Oct 16, 2017.

The Government is planning to raise $500 million to $1 billion by floating Eurobond in the international debt market.

Last year Pakistan issued $1 billion of five-year dollar-denominated sukuk bonds, the issue attracted $2.4 billion in bids.

Pakistan’s Credit Rating for Long term Debt (Foreign Currency)
Rating Agency	Rating	Outlook
Moody's	B3	Stable
Standards & Poors	B	Stable
Fitch	B	Stable

Pakistan’s Foreign Exchange reserves have been consistently declining and the SBP reserves have fallen below the 3 month import cover level.

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