The Islamic Republic of Pakistan has mandated Citigroup, Deutsche Bank and JPMorgan for a new international deal that is expected to launch in March. Although the mandate has yet not been formally announced, the market is expecting a benchmark $500 million to $1 billion five-year deal.
Pakistan's existing two bond deals have performed well in the secondary market and the country will be looking to take advantage of this, as well as build on momentum in its economic reform programme.
In February 2004, the government priced a $500 million five year fixed rate deal under the lead of ABN AMRO, Deutsche Bank and JPMorgan. The deal was priced at par on a...
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