Pakistan

Asia’s capital markets have swung from euphoria to despair in the past year, with no let-up in sight

South Asian sovereign made an opportunistic move to print a rare sukuk

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.

Deutsche Bank has hired a new head of global emerging markets business in Pakistan.

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.

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.

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.

Pakistan’s Ministry of Finance and Revenue has raised a $370m syndicated loan from a group of 10 banks.

The government of Pakistan is seeking banks to offer advice on the sale of planned dollar bonds and sukuk in the international capital market.

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.

Pakistan’s stock exchange has called for public comment on the potential IPOs of Air Link Communications and TPL Trakker.

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.