Pakistani Government has released a document for providing initial guidance regarding issuance of Foreign Currency Bond. Pakistan expects to raise at least $500mn through the bonds which will be offered to interntional investors.
The three-tranche dollar bonds will be issued for 5, 10 and 30 years.
As per the initial guidance, indicative rates are expected around 6.25% for a five-year bond, around 7.5% for a ten-year bond and between 8.875% and 9% for a 30-year stretch.
Credit Suisse, Deutsche Bank, Emirates NBD Capital, JP Morgan, Standard Chartered and Bank International are the arrangers of the bond, while the bonds will be raised next week. The issue size of single tranche is $500mn.
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