Pakistan executes bond at half expected size

Completion of Pakistan's latest international bond offering sends mixed signals to other high-yield issuers in the pipeline.

Pakistan executes bond at half expected size

The Islamic Republic of Pakistan returned to the international bond markets for the seventh time in its history on Thursday with a $500 million offering that marked its first new transaction since November 2014.

The B3B-B- rated sovereign raised exactly half the amount of money it had been hoping for, having budgeted for $1 billion in offshore bonds this current fiscal year. 

The 10-year 144a deal came on yet...

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