The federal government is increasing its Eurobond issuance from $500 million to $750 million, Khurram Schehzad, adviser to the finance minister, announced on Monday.
In a post on X, he said Pakistan upsized the issuance by exercising the Green Shoe Option. “The upsizing reflects stronger-than-expected investor demand, reinforcing confidence in Pakistan’s economic outlook and market re-entry,” he said.
The 3-year Eurobond, initially placed at $500 million last week, attracted significant global interest, said Schehzad, adding this enabled the government to broaden investor participation.
The adviser said the interest in the Eurobond indicated strong investor demand and sustained appetite; successful execution of the Green Shoe option; enhanced depth and liquidity in Pakistan’s sovereign yield curve; and a reinforcement of Pakistan’s re-engagement with global capital markets.
“Driven by incremental investor demand, the upsizing enhances Pakistan’s presence in global capital markets—reinforcing confidence in the country’s economic outlook and market re-entry, while building momentum for future issuances under the GMTN Program,” he added.