Pakistan
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Asia’s capital markets have swung from euphoria to despair in the past year, with no let-up in sight
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South Asian sovereign made an opportunistic move to print a rare sukuk
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The Islamic Republic of Pakistan returned to the bond market on Wednesday, raising $1bn in a triple part tap of its existing dollar bonds. Market participants say they are ‘impressed’ with the way reforms are headed in the South Asian country amid its International Monetary Fund programme.
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Deutsche Bank has hired a new head of global emerging markets business in Pakistan.
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In a rare international bond issue from Pakistan, state-owned Water and Power Development Authority has issued the country's first responsible investment-labelled bond. It was also Wapda's debut dollar bond.
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The Islamic Republic of Pakistan marketed its first dollar bond in more than three years this week, following the return of the country’s IMF programme. The triple tranche transaction raised the south Asian country $2.5bn — and proved its resilience in the face of the pandemic. Morgan Davis reports.
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Pakistan’s Water and Power Development Authority (Wapda) is planning to sell its debut dollar bond in late March, in what would be a rare international corporate outing from the country.
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Pakistan’s Ministry of Finance and Revenue has raised a $370m syndicated loan from a group of 10 banks.
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The government of Pakistan is seeking banks to offer advice on the sale of planned dollar bonds and sukuk in the international capital market.
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The Asian Infrastructure Investment Bank has approved loans totalling $1.2bn to India and Pakistan to help the two countries combat the Covid-19 pandemic.
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Pakistan’s stock exchange has called for public comment on the potential IPOs of Air Link Communications and TPL Trakker.
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Pakistan has started the year by rejigging rules for IPOs in the country, in a bid to revive its fledgling stock market by attracting more listings.
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Country Garden seeks second borrowing in six months – UAF taps two banks for HK$1.6bn – Deutsche arranges $190m for Shangshi – Pakistan sovereign deal open – Malakoff woos banks to refi – IRFC pulls into Samurai market
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The Islamic Republic of Pakistan’s sovereign bonds were among the best performers in high yield Asian debt in dollars last week, as the country neared an agreement with the International Monetary Fund (IMF) for a bailout.
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Pakistan’s Hub Power Co (Hubco) has launched a rights issue to fund an increase of its stake in the local subsidiary of a Chinese state-owned power company.
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Pakistan walks a fine line between emerging market and frontier. It is clinging on to its hard won status, reports Morgan Davis
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Panda bonds could take a back seat in the first quarter of 2019 due to the expected increase in issuance of local government bonds and as banks focus on their own funding needs, according to onshore DCM bankers.
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Interloop, a Pakistan-based sock supplier for sports brands Nike and Adidas, intends to list on the domestic stock exchange, in what would be the country’s largest listing from a private sector company.
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The Islamic Republic of Pakistan’s outstanding dollar bonds received a boost on Tuesday after the country turned to the IMF for assistance. Addison Gong reports.
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Goldman hires from IMF — UBS adds to debt origination — Bank Alfalah, CLSA ink pact for Pakistan — Credit Suisse taps Japan CEO — PNB scoops up former HSBC banker
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Pakistan is making a quick comeback to the loan market, seeking $200m, amid a mounting debt crisis in the country. But economists and bankers said numerous funding avenues are available for the sovereign to manage its $12bn of outstanding debt.
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Asia’s syndicated loan market is offering razor-sharp funding to sovereign borrowers, and that is not just limited to the more developed countries in the market. Pakistan and Sri Lanka are returning to the market with $1.45bn of loans between them, and both look set to cut their pricing significantly. Pan Yue reports.
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An overnight bookbuild in Oil & Gas Development Co this week reopened the market for Pakistan equity deals, as investors clamoured for shares in the Prp5.7bn ($49.7m) offering.
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China plans to turn Hainan into its latest trade laboratory, the International Monetary Fund (IMF) warns countries joining the Belt and Road Initiative against accumulating excessive debt, and the securities watchdog says it will allow international participants to trade onshore iron ore futures by early May.