Pakistan has issued its first US dollar bonds in seven years. The sovereign, rated Caa1/B- by Moody’s/S&P, has launched a $1bn five-year tranche at the final yield of 7.25% and a 10-year portion at 8.25%.
The transaction re-establishes the country’s profile in front of the global fixed income investor base.
Finance Minister Ishaq Dar has been meeting bond managers in Dubai, London, Toronto and New York to drum up support for the issues.
