Pakistan prices record $3bn dual‑tranche Eurobond, including $1.25bn 10‑year
On 3 September 2026 Pakistan priced a dual‑tranche Eurobond raising $3.0bn: $1.75bn 5.5‑year at 7.50% and $1.25bn 10‑year at 7.90%. The transaction attracted nearly $6.0bn of orders, marking the country’s largest single international bond sale and signalling renewed demand for long‑dated EM supply.
The desk brief
On 3 September 2026 Pakistan priced a dual‑tranche Eurobond raising $3.0bn: $1.75bn 5.5‑year at 7.50% and $1.25bn 10‑year at 7.90%. The transaction attracted nearly $6.0bn of orders, marking the country’s largest single international bond sale and signalling renewed demand for long‑dated EM supply.
Strong demand for Pakistan’s 10‑year sovereign paper can act as a technical source of incremental investor demand for liquid, higher‑quality long‑dated EM sovereigns. That can narrow spreads on Morocco and South Africa long‑end USD Eurobonds relative to peers, while raising competition for scarce long‑dated allocation and potentially increasing premia for smaller or frontier African borrowers seeking benchmark-sized issuance.
Monitor upcoming long‑dated USD sovereign issuance from Morocco and South Africa and any follow‑up GMTN taps from Pakistan over the next quarter.
Sources & verification
Developing storyFurther independent confirmation is required.
- Pakistan raises record $3bn in international bond issuance - Profit by Pakistan Todaypakistantoday.com.pkSource published (opens in a new tab)
- Pakistan raises $3bn through dual-tranche Eurobond saledawn.comSource published (opens in a new tab)
Public references supporting this brief.