LONDON: Pakistan’s international bonds rallied on Wednesday on news that Saudi Arabia will provide $3 billion in additional support to help the South Asian nation bridge a multi billion dollar gap in its finances linked to a repayment to the United Arab Emirates.
Dollar-denominated bonds maturing in 2031 and 2036 both gained 0.8 cents, the latter bid at 97.77 cents on the dollar, Tradeweb data showed.
The bonds are trading at their strongest level since late February, when Israel and the United States launched strikes against Iran, setting off a wider conflict across the region.
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