SBP receives $1bn against Eurobond issue
Pakistan had floated different tenors Eurobonds worth $1 billion.
KARACHI (Web Desk) - The State Bank of Pakistan (SBP) said on Wednesday that it has received the proceeds of the Eurobond.
After the arrival of payment, foreign exchange reserves reached four years high of 18.2 billion dollars.
Pakistan had floated different tenors Eurobonds worth $1 billion at up to 8.5% interest rates.
Pakistan had borrowed $300 million for five years at 5.875% interest rate. The government also borrowed another $400 million for 10 years at an interest rate of 7.125%. It also took $300 million loan for 30 years at 8.45%.