Pakistan to target USD1bn from Islamic bond

Tue Jul 22, 2014 5:53am EDT

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July 22 (IFR) - Pakistan is looking to raise USD1bn from an Islamic bond denominated in US dollars and plans to finalise arrangers within two weeks, according to a finance ministry official.

The government has shortlisted four banks to arrange the Islamic bond, or sukuk, and plans to launch the deal as early as September, the official said.

Pakistan raised USD2bn from a two-part global bond in April, its first after an absence of seven years. (Reporting By Frances Yoon. Editing By Steve Garton)

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