Pakistan seals sukuk at historic low coupon

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By Addison Gong
06 Oct 2016

The Islamic Republic of Pakistan raised $1bn from a five year sukuk at a record low coupon on Wednesday. The deal affirmed the country’s ability to raise funds from international investors, which are growing more confident about its economic prospects.

The sovereign was last seen in the Islamic bond market in November 2014 when it priced a $1bn 6.75% five year note.

Since then, things have changed for the better for the south Asian country. Moody's lifted Pakistan’s credit rating to B3 from Caa1 in June 2015, ...

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