Bonds Fever

Southasia - - BRIEFS -

With its one bil­lion dol­lars Sukuk bond is­sue, Pak­istan has again en­tered the in­ter­na­tional Is­lamic bond mar­ket af­ter a two- year gap. The Pak­istan gov­ern­ment had floated 5- year Sukuk bonds in 2014 at 6.75 per cent and raised one bil­lion dol­lars. In 2015, a 10- year Eurobond was is­sued at 8.25 per cent, rack­ing up $ 500 mil­lion. Through the is­sue of 5- year Sukuk bonds in Septem­ber 2016, the gov­ern­ment plans to raise one bil­lion dol­lars at the rate of 5.5 per­cent. About 38 per cent of the bids have al­ready been re­ceived from Euro­pean coun­tries.

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