Pakistan to Issue Tender for Eurobond on Monday
MG News | October 15, 2017 at 06:07 PM GMT+05:00
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.
| 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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