Pakistan on Wednesday sold $2 billion worth of five- and 10-year bonds in its first international sale since 2007, the Finance Ministry officials said.
Pakistan marketed $1 billion of five-year notes at a yield of 7.25 percent and $1 billion of 10-year securities at 8.25 percent, said an official requesting not to be named as the figures would not be officially released until Thursday.
The market rallied after the sale, strengthening the PKR. The sale will also boost reserves and help Pakistan meet International Monetary Fund (IMF) conditions. Last September, the IMF saved Pakistan from possible default by agreeing to lend it $6.7 billion over three years.
