Pakistan celebrates landmark US$3 billion Eurobond issuance at the London Stock Exchange
The Government of Pakistan is pleased to mark its landmark US$3 billion dual-tranche sovereign Eurobond issuance at the London Stock Exchange — celebrating Pakistan’s renewed access to international capital markets and the growing confidence of global investors in the country’s economic trajectory.
The transaction represents Pakistan’s largest-ever international bond issuance in a single transaction, attracting nearly US $6 billion in global investor demand — almost twice the amount issued — from a broad and geographically diversified institutional investor base.
The issuance comprised:
- US$1.75 billion | 5½-year | 7.50% coupon
- US$1.25 billion | 10-year | 7.90% coupon
Strong demand across both maturities — including substantial appetite for Pakistan’s 10-year sovereign paper — reflects international investors’ renewed engagement with Pakistan as its macroeconomic fundamentals and sovereign credit profile improve.
The transaction also marks the first issuance under Pakistan’s renewed Global Medium-Term Note (GMTN) Programme, following the country’s successful inaugural Panda Bond and successive sovereign credit-rating upgrades.
More than a financing transaction, the issuance forms part of Pakistan’s broader sovereign debt-management strategy: diversifying funding sources, extending maturities, reducing refinancing and rollover risks, and improving the overall debt profile.
The London Stock Exchange ceremony recognises an important milestone in Pakistan’s return to global capital markets — connecting the country once again with one of the world’s deepest pools of international institutional capital.
Nearly US$6 billion of global demand. US$3 billion raised. A 10-year international benchmark restored.
A market-based signal of renewed international investor confidence in Pakistan’s medium- and long-term economic trajectory.
