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Markets

Pakistan gives initial guidance for three-tranche dollar bonds

  • Each tranche will be of benchmark size, which generally means at least $500 million.
30 Mar 2021

DUBAI: Pakistan on Tuesday gave initial price guidance for three-tranche US dollar-denominated bonds comprising tranches of five, 10 and 30 years, a document showed on Tuesday.

Initial guidance was around 6.25% for the five-year notes, around 7.5% for the 10-year paper and between 8.875% and 9% for the 30-year tranche, the document from one of the banks on the deal showed.

Credit Suisse, Deutsche Bank, Emirates NBD Capital, JPMorgan, Standard Chartered and BOC International are arranging the deal, which is expected to launch later on Tuesday.

Each tranche will be of benchmark size, which generally means at least $500 million.