Pakistan offers preliminary steerage for three-tranche greenback bonds – doc

by akoloy

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DUBAI — Pakistan on Tuesday gave preliminary value steerage for three-tranche U.S. dollar-denominated bonds comprising tranches of 5, 10 and 30 years, a doc confirmed on Tuesday.

Initial steerage was round 6.25% for the five-year notes, round 7.5% for the 10-year paper and between 8.875% and 9% for the 30-year tranche, the doc from one of many banks on the deal confirmed.

Credit Suisse, Deutsche Bank, Emirates NBD Capital, JPMorgan, Standard Chartered and BOC International are arranging the deal, which is predicted to launch in a while Tuesday.

Each tranche can be of benchmark dimension, which usually means no less than $500 million.

(Reporting by Yousef Saba; Editing by Andrew Heavens)

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