🔵Pakistan is back in the global market looking to raise funds today through dollar bonds its sold in March
🔵Rates are low, there is a global rush to raise funds before financing costs rise
🔵Pakistan is getting a lower price than last time.
5.875% area for 5 year
7.125-7.250% area for 10 year
8.5-8.625% area for 30 year
Since many are surprised and this came a bit out of the blue, Pakistan did a MTN program this time that allows multiple transactions over a year rather than one new bond issue.
Faseeh Mangi Twitter.