Pakistan successfully raised $ 2.5 billion in Eurobonds on Tuesday in an auction against bids of $ 5.3 billion, reflecting international investors’ interest in the country’s sovereign instruments given high interest rates.

Pakistan raised $ 1 billion in five-year notes at 6% yield, another $ 1 billion in 10-year Bond at 7.37% and $ 500 million in 30-year Bond at 8.87%.

Commenting on the Pakistani dollar Eurobonds, Mathias Martinson, founder and chief investment officer of the Tundra Founder, said on his official Twitter account:

‚ÄúPakistan’s return to the EB market is likely to set criteria for more active participation in the future. . makes sense (because it will fall off if repairs continue). The 30-year yield is 8.87%, so I’m personally tempted. “

As per analysts, Pakistan was able to reduce the rate offered on Euro Bonds. Previously, Eurobonds were raised at higher rates. The inflow of foreign currency against the Euro Bonds will help strengthen the rupee’s peg against the dollar, a trend we saw throughout March.

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