Eurobonds: Move receives positive response, says Dar

The finance minister expected the bond paper to be oversubscribed

NEW YORK:

Pakistan’s move to issue Eurobonds worth $500 million after a gap of seven years has received a good response from bond managers in Dubai, London, Toronto and New York, and a final decision in this regard could come as early as Wednesday, according Finance Minister Ishaq Dar.

At the end of the ‘Bond Roadshow’, Dar told cheering members of the Pakistani community that international confidence in the country’s economy had grown and he expected the bond paper to be oversubscribed. The minister said at the time he completed his discussions with bond managers at the Wall Street on Monday evening, markets in the Far East were closed and he was awaiting the reaction from there.

Published in The Express Tribune, April 9^th, 2014.

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