ISLAMABAD: Pakistan bank consortia have been selected to manage Eurobonds, international Sukuk and PKR-denominated USD-settled bonds. The government targets at least USD 2 billion in FY2026-27.
The Finance Division completed the competitive procurement under Pakistan’s Global Medium-Term Note Programme and International Sukuk Programme. The appointments are intended to support repeated sovereign issuances rather than a single transaction.
Standard Chartered Bank, Citibank N.A., Deutsche Bank AG, Emirates NBD Capital and MUFG Securities Asia Limited were selected for the Eurobond consortium.
The international Sukuk consortium comprises Standard Chartered Bank, Dubai Islamic Bank PJSC, Citibank N.A., Emirates NBD Capital and Mashreq Bank PSC.
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Standard Chartered Bank, Citibank N.A., and Deutsche Bank AG will manage the proposed PKR-denominated bonds. Investors would settle these bonds in U.S. dollars.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a virtual meeting from Washington, D.C., with senior executives of the selected financial institutions. This meeting launched the partnership.
The government said future transactions would proceed after the required documentation and other formalities are completed. Issuances would be launched when needed under Pakistan’s external financing strategy.
MUFG Securities Asia Limited and Mashreq Bank are participating in these programmes for the first time. Therefore, they expand the group of international institutions supporting Pakistan’s sovereign borrowing plans.
