political-turmoil-casts-shadow-over-pakistan-bond

Political turmoil casts shadow over Pakistan bond

While Pakistan's financial story is a good one, the sovereign will face a tough battle reassuring investors for the country's fourth international debt offering since 2004.
Two roadshow teams are to be deployed to convince investors about PakistanÆs as yet unannounced sovereign dual-tranche bond issue. The first team will cover Singapore, Hong Kong and Los Angeles, while the second will cover Dubai, London, Boston and New York. They face the challenge of reassuring investors about the benchmark-sized offering, rated B-B1, which is being managed by Citi, Deutsche Bank and HSBC.

When Pakistan's president, General Perez Musharraf, suspended the countryÆs chief justice Chaudhary two months ago, deadly clashes resulted in 39 deaths, and highlighted a fragile environment that could spin out of control, according to HSBC analysts in a May 14 global research report. ôShould the political situation unravel, the...
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