Pakistan got around $8 billion offers for both Sukuk and Eurobond, allowing the country to get the best deal. The deal was signed off at rates which were even lower than indicative rates Pakistan offered to global investors. Pakistan offered the 10-year Eurobond bond in the low 7% range and the 5-year Sukuk at an initial price tag of 6%. The Third Pakistan International Sukuk Company issued the Sukuk Al-Ijarah, pledging a section of Pakistan Motorways as collateral. These include $6.64 billion expensive foreign commercial loans and $7 billion Sukuk and Eurobond notes, including the fresh deal.

Source: The Express Tribune November 29, 2017 20:26 UTC