Pakistan to issue five and 10-year benchmark-sized US dollar bonds -source
LONDON, April 7 (IFR) - The Islamic Republic of Pakistan, rated Caa1 by Moody's and B- by Standard & Poor's, has announced its intention to issue US dollar denominated bonds with five and 10-year tenors, according to a source.
Both bonds, which will be issued under a 144a/Reg S format, are expected to be of benchmark size.
The sovereign completes investor meetings in the US today, with the deal expected to price on Tuesday, subject to market conditions.
Bank of America Merrill Lynch, Barclays, Citigroup and Deutsche Bank are the lead managers.
(Reporting by Sudip Roy, editing by Anil Mayre)
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