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