According to news sources, The Water and Power Development Authority (WAPDA) has postponed its plan to launch a second green bond in the International Market with issue size of $ 500mn, originally planned for March-2022, taking into account various internal and external factors that have driven interest rates higher.
WAPDA will now issue the bond in FY2022-2023, keeping in view Macro Economic Factors.
“The domestic and international situation, especially as a result of the current situation in Afghanistan, made the overall environment impossible to raise funds by issuing bonds on the international market, as this led to overpricing or higher interest rates on Eurobonds”, commented a WAPDA official.
On May 27, WAPDA issued its first Eurobonds, a 10-year bond, to raise $ 500 million at a competitive interest rate of around 7.5% after it was listed on the London Stock Exchange. The Bond attracted a number of international investors who offered $ 3 billion to Wapda,
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