ISLAMABAD, May 26: Prime Minister Shaukat Aziz said on Saturday the Eurobond had attracted investors from all over the world especially from the Asia, Europe and the United States of America.
He stated this while talking to his economic team, which included Adviser on Finance Dr Salman Shah, Secretary General Finance Naveed Ahsan, Governor State Bank of Pakistan Dr Shamshad Akhtar and Economic Adviser Dr Ashfaq Hasan Khan.
An official announcement issued here said the premier congratulated the economic team on the successful launching of the Eurobond and good management of the road-shows for the bond
issue.
Mr Aziz said that the Eurobond, which was only open to the overseas investors, was heavily over-subscribed by seven times reaching to over $3.5 billion. While the government was expecting to raise $500 million but due to heavy demand by the investors, the government decided to accept $750 million.
He said the pricing of the bond was tighter than the last issue showing confidence of the global investors on the current and future prospects of Pakistan’s economy. It also reflects the confidence of global investors on the economic management and the leadership of Pakistan.
The premier praised the success of the issue and said it augurs well for the current and future access to the capital market. The successful over-subscription of the bond issue, he mentioned, will also help attract more foreign investment which will help sustain the ongoing growth momentum.
He said that Pakistan’s current rating is B+ with a positive out look by Standard and Poor’s indicating the success of our economy.
