Wikipedia

List of eurobonds issued by Pakistan

A eurobond is an international sovereign bond issued by the Government of Pakistan. As of April 2024, the total outstanding sovereign eurobonds of Pakistan stood at $5.8 billion.[1]

History

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Pakistan issued its first eurobond in 1994.[2][3]

In February 2004, a consortium led by ABN AMRO, Deutsche Bank, and JPMorgan arranged a $500 million five-year fixed-rate bond for the government, issued at par with a 6.75 percent coupon.[4]

In March 2006, the Government of Pakistan selected Citigroup, Deutsche Bank, and JPMorgan to manage a new international bond issuance valued at $500 million.[4]

In May 2021, Water and Power Development Authority, an organization administered by the Government of Pakistan, issued $500 million eurobond at a coupon rate of 7.5 percent to fund the construction of Diamer-Bhasha Dam and Mohmand Dam.[5]

List

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Bond Issuance Details
Issued amount Coupon Tenor Date Status Reference(s)
150 million 11.5 percent 5 years 1994 Tenor completed [6]
500 million 6.75 percent 5 years 2004 Tenor completed [7]
300 million 7.875 percent 30 years 30 March 2006 Due in March 2036 [8]
500 million 7.125 percent 10 years 30 March 2006 Tenor completed [9][10]
750 million 6.875 percent 10 years May 2007 Tenor completed [11]
1 billion 8.25 percent 10 years 8 April 2014 Tenor completed [12][13]
500 million 8.25 percent 10 years 24 September 2015 Due in September 2025 [12][14]
1.5 billion 6.875 percent 10 years 5 December 2017 Due in December 2027 [15]
1 billion 5.875 percent 5 years 8 April 2021 Due in April 2026 [16]
1 billion 7.375 percent 10 years 8 April 2021 Due in April 2031 [17]
500 million 8.875 percent 30 years 8 April 2021 Due in April 2051 [17]
300 million 5.875 percent 5 years 7 July 2021 Due in July 2026 [16][8]
400 million 7.375 percent 10 years 7 July 2021 Due in July 2031 [16][8]
300 million 8.875 percent 30 years 7 July 2021 Due in July 2051 [16][8]

References

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  1. ^ "SBP Working Paper Series" (PDF).
  2. ^ "Pakistan launches Eurobond issue - UPI Archives". UPI.
  3. ^ "MEED | PAKISTAN: First Eurobond issue launched".
  4. ^ a b "Pakistan mandates three for new Eurobond". FinanceAsia.
  5. ^ "PM stresses on the need for long-term planning for Pakistan". The Express Tribune. 31 May 2021.
  6. ^ Hargrove, Kenny (28 July 1996). "THE APPEAL OF PAKISTANI BONDS". Washington Post.
  7. ^ Aftab, Muhammad (23 February 2004). "Pakistan: Eurobonds Come Under Criticism". Arab News.
  8. ^ a b c d Jamal, Nasir (2 October 2021). "Govt mulling when to float global bond to raise fresh debt". DAWN.COM.
  9. ^ "Pakistan to pay $517.81mln against Eurobond on March 31". The News International.
  10. ^ Kiani, Khaleeq (28 March 2016). "$500m payment to Eurobond investors authorised". DAWN.COM.
  11. ^ "$750 million accepted for Eurobond at 6.875 percent: Prime Minister". Business Recorder. 25 May 2007.
  12. ^ a b "Pakistan makes successful return to the bond market". The Banker.
  13. ^ "Pakistan repays $1 bln in Eurobonds, says central bank". Reuters.
  14. ^ "Expensive Eurobond issue has no early return clause". The Express Tribune. 22 December 2016.
  15. ^ "Pakistan raises US $2.5 bn from sukuk, Eurobond sales, sees solid demand". Daily Mirror.
  16. ^ a b c d Jamal, Nasir (7 July 2021). "Pakistan raises another $1bn through Eurobond issued in March". DAWN.COM.
  17. ^ a b "Eurobond transaction". DAWN.COM. 2 April 2021.
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