USD benchmark dual-tranche Eurobond: MoF initiates process

The Ministry of Finance has begun preparations for a Eurobond denominated in US dollars, according to Business Recorder. The plan involves two parts, with maturities of five and 10 years, and will depend on prevailing conditions in the market. Pakistan's return to global debt markets would mark a fresh move for the country.

Adviser to the Finance Minister Khurram Schehzad made the announcement on X on Tuesday. He linked the move to a run of sovereign rating upgrades for Pakistan, along with firmer economic indicators and greater confidence among investors. Pakistan's ratings have been raised more than once, the adviser said.

The offering is expected to give Pakistan access to overseas funding and set a new reference point for the country in international debt markets. The report did not give a size for the issue.