Pakistan launches process for dual-tranche dollar Eurobond

Pakistan has started the process for a benchmark dollar-denominated dual-tranche Eurobond, according to Mettis Link News, which calls it a notable step toward regaining access to international capital markets after a long absence. The Ministry of Finance stated that the offering would include five-year and 10-year maturities, depending on market conditions and investor demand, as noted in an official press release.

The size, pricing and final yield of the transaction were not immediately disclosed. Mettis Link News described the offering as a gauge of overseas demand for Pakistani sovereign paper and a possible return to global debt markets.

The Finance Ministry has said Pakistan remains committed to meeting its external debt commitments, and that Eurobond repayments are being handled in an orderly way. Pakistan has advanced under its IMF-backed reform program, with the government stressing fiscal and external discipline. A successful issue would reopen international borrowing channels and could lessen reliance on bilateral financing.