Pakistan is expected to issue a US $500m 10-year bond at a yield of 8.25 percent later on Thursday. The sovereign began marketing the 144A/Reg S deal earlier in the day in the low 8% area. Demand for the bond is about US $1bn. The issue is expected to be rated B3 by Moody''s and B by Fitch. Citigroup, Deutsche Bank and Standard Chartered are the lead managers.