Pakistan's Finance Minister Muhammad Aurangzeb pointed out that after successfully issuing its first yuan-denominated bond, Pakistan hopes to raise more funds from the Chinese onshore market this year.
According to Bloomberg, Pakistan's first yuan bond attracted over five times subscription, showing strong investor demand for these bonds. Through this bond issuance, Pakistan successfully raised $258 million (1.01922 billion ringgit), which is also the South Asian country's lowest-cost foreign currency bond issuance to date.
Aurangzeb said in an interview on Friday (May 15), "We are very clear that this is not a one-off event." He mentioned that the total planned scale for yuan bonds is $1 billion, "We will immediately move forward with the next batch of yuan bond issuance."
This year, Pakistan has already successfully raised funds from the international market, and last month, after four years, once again issued global bonds through a private placement. After being on the verge of default in 2023, Pakistan implemented economic reforms with the help of the International Monetary Fund, restoring investor confidence.
Aurangzeb said in an interview on Friday (May 15), "We are very clear that this is not a one-off event." He mentioned that the total planned scale for yuan bonds is $1 billion, "We will immediately move forward with the next batch of yuan bond issuance."
This year, Pakistan has already successfully raised funds from the international market, and last month, after four years, once again issued global bonds through a private placement. After being on the verge of default in 2023, Pakistan implemented economic reforms with the help of the International Monetary Fund, restoring investor confidence.