Pakistan pays $600m on maturing Euro Sukuk Bond
Thursday, 28 January 2010
KARACHI, Jan 27 (Business Recorder): Pakistan paid Tuesday $600 million on a maturing five-year Euro Sukuk Bond to foreign buyers, a central bank official said. Entering the international bond market, Pakistan launched first-ever Euro Bond in 2004 through Citibank to dig up foreign exchange for external payments.
In the first phase, the country auctioned worth $500 million of five-year Euro Bond in 2004, matured in 2009, while in the second phase Pakistan launched five-year Islamic Euro Sukuk Bond in January 2005," sources in banking industry said.
The country auctioned worth $500 million Euro Sukuk Bond in January 2005, which has completed five years period and maturated on January 26, 2010, sources added. Overall 5 million bonds were auctioned at a price of $100 per bond in the international market.
In the first phase, the country auctioned worth $500 million of five-year Euro Bond in 2004, matured in 2009, while in the second phase Pakistan launched five-year Islamic Euro Sukuk Bond in January 2005," sources in banking industry said.
The country auctioned worth $500 million Euro Sukuk Bond in January 2005, which has completed five years period and maturated on January 26, 2010, sources added. Overall 5 million bonds were auctioned at a price of $100 per bond in the international market.