Pakistan raises $3bn via dual‑tranche Eurobond, lifting FX reserves to $21.4bn
On 15 September 2026 Pakistan completed a dual‑tranche Eurobond sale, accepting $3.0bn of offers (a $1.75bn 5.5‑year and $1.25bn 10‑year), and the proceeds helped the State Bank of Pakistan’s foreign‑exchange reserves rise to $21.4bn.
The desk brief
On 15 September 2026 Pakistan completed a dual‑tranche Eurobond sale, accepting $3.0bn of offers (a $1.75bn 5.5‑year and $1.25bn 10‑year), and the proceeds helped the State Bank of Pakistan’s foreign‑exchange reserves rise to $21.4bn.
The $3bn sovereign Eurobond is a meaningful EM supply event that can compete for the same global dollar investor base that African USD sovereigns and corporates tap. Conditionally, this can tighten primary issuance windows and increase funding costs for long‑dated or high‑beta African borrowers if investor allocations shift toward Pakistan paper, or if benchmark US rates move contemporaneously.
SBP’s next monetary policy meeting, where the central bank said it will share a revised reserves target.
Sources & verification
Developing storyFurther independent confirmation is required.
- BR-ePaper | Sep 15, 2026 | Page Front Page 1brecorder.com (opens in a new tab)
- SBP reserves hit record $21.4bn after Eurobond inflow - Profit by Pakistan Todaypakistantoday.com.pkSource published (opens in a new tab)
Public references supporting this brief.