Pakistan receives $1 billion from Eurobond auction

KARACHI: The State Bank of Pakistan (SBP) on Wednesday said it has received $1 billion proceeds against the issuance of Eurobond.

In a tweet, the central bank said that it had received $1 billion proceeds from the government’s tap offering of its recently issued Eurobond.

“Accordingly, the SBP’s foreign exchange reserves, as of July 13, 2021, reached $18.2 billion, which is the highest level, since January 2017,” the central bank said.

Pakistan recently issued $300 million bonds for 5-year at 5.875 per cent, $400 million bonds for 10-year at 7.125 per cent and $300 million for 30-year bond at 8.450 per cent.