ISLAMABAD: Pakistan has jacked up issuance of Eurobond to $750 million with an additional $250 million placed with global institutional investors through the exercise of the greenshoe option.
According to an X post by Advisor to Finance Ministry Khurram Shahzad on Monday, following its successful return to international capital markets after four years, Pakistan has upsized its Eurobond issuance to $750 million, with an additional $250 million placed with global institutional investors through the exercise of the greenshoe option.
The upsizing reflects stronger-than-expected investor demand, reinforcing confidence in Pakistan’s economic outlook and market re-entry. The three-year Eurobond, initially placed at $500 million, attracted significant global interest - enabling the government to broaden investor participation.
The key signals included strong investor demand and sustained appetite, successful execution of the greenshoe option, enhanced depth and liquidity in Pakistan’s sovereign yield curve, and reinforces Pakistan’s re-engagement with global capital markets, he added.
Driven by incremental investor demand, the upsizing enhances Pakistan’s presence in global capital markets - reinforcing confidence in the country’s economic outlook and market re-entry, while building momentum for future issuances under the GMTN Programme.
Sources stated that Standard Chartered Bank was hired for the listing of investors, and the government initially raised $500 million at the offered rate of 6.97 per cent. Later, the government also upsized the Eurobond by adding $250 million, increasing the total size of the bond to $750 million, with institutional investors as the primary investors.
