Overview
- The government has formally started marketing a US‑dollar benchmark Eurobond targeted at roughly $2 billion split into five‑ and ten‑year tranches, with final size and pricing to depend on investor demand.
- Citi, Deutsche Bank, Emirates NBD Capital, MUFG and Standard Chartered have been named joint lead managers and bookrunners for the planned transaction.
- Officials and advisers have recommended investor roadshows in London, Washington and Gulf financial centres to build an order book before setting yields, which will be quoted as SOFR plus Pakistan’s country risk premium.
- The Finance Ministry says proceeds could be used in part to manage bilateral loan deposits, including repayments or cycling of funds tied to China and Saudi Arabia, and to cover broader external financing needs.
- The planned offering follows Pakistan’s April re‑entry to markets with a $750 million three‑year Eurobond and successive sovereign rating upgrades, but execution risks remain from global rate moves, market volatility and investor confidence.