Pakistan raised $3 billion through a two-part international bond sale, its biggest such transaction
The bonds attracted nearly $6 billion in orders, reflecting strong demand despite Pakistan’s speculative-grade status
The sale comes as Islamabad seeks to strengthen external financing and reduce refinancing pressures following a series of credit-rating upgrades
Pakistan Raises $3 Billion As Investors Flood Bond Sale With $6 Billion Orders
Islamabad secured nearly $6 billion in orders for the bond sale, while a government post containing draft wording sparked online mockery.
Summary
Pakistan has raised $3 billion through a two-part international bond sale, its biggest such transaction, as strong investor demand gave Islamabad access to longer-term foreign financing.
The government sold $1.75 billion of 5½-year bonds at a 7.75% yield and $1.25 billion of 10-year bonds at 8.25%, Bloomberg reported. The deal attracted nearly $6 billion in orders, highlighting strong demand despite Pakistan remaining a speculative-grade borrower.
The sale comes after a series of credit-rating upgrades and as Islamabad seeks to strengthen its external financing position and reduce refinancing pressures.
Government Post Draws Mockery
The financial announcement was briefly overshadowed online after the Pakistani government appeared to publish a draft version of its statement on the bond sale.
The post contained wording that had apparently not been finalised, prompting social-media users to mock the apparent copy-and-paste error with “Ctrl+C, Ctrl+V” references.
The government later corrected the post, but the mistake drew attention to its communications even as the bond sale itself marked a significant return to international markets.
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