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Tuesday, June 15, 2021

Asian Growth Financial institution sells PKR-linked bonds for $10 million

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  • ADB has offered Pakistani-rupee linked bonds price $10 million
  • The Karakoram bonds have been offered on January 28
  • Notification issued by ADB says bonds have been bought by two traders from Europe

The Asian Growth Financial institution (ADB) has offered Pakistani-rupee linked bonds price $10 million, Geo Urdu reported Friday.

Based on the article, a notification issued by the ADB stated that the Karakoram bonds, linked with the Pakistani foreign money, have been offered on January 28. It added that the bonds have been bought by two traders from Europe.

Learn extra: ADB sees financial restoration in Pakistan

The Karakoram bond is an offshore bond denominated in Pakistan rupees and settled in US {dollars}, listed on a serious inventory trade and settled via a global central securities depository.

The ADB stated that the Karakoram bond will allow Pakistan to earn Rs60 billion over a interval of 5 years. The financial institution has issued these bonds earlier than too, the notification added.

Learn extra: ADB endorses new five-year partnership technique of approx $10b for Pakistan

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