Pakistan pushes its curve out to 2036

Pakistan prices its largest ever debt deal, while racing out to establish a long-dated curve only two years after its debut.
The Islamic Republic of Pakistan has priced its third international bond deal in the past two years with a dual tranche upsized $800 million transaction. The deal, led by Citigroup, Deutsche Bank and JPMorgan, is split into a $500 million 10 year tranche and a $300 million 30 year tranche. Together, they represent the largest ever fundraising exercise for Pakistan.

Furthermore, with the completion of a 30 year tranche, Pakistan becomes one of the fastest emerging market sovereigns to develop a long dated curve going from five-year to 30 year in only a two year timeframe. Comparably, it took the Philippines - one of AsiaÆs biggest sub-investment grade borrowers û four years to build...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222