Pakistan will issue new Eurobonds, Sukuk bonds, and its first dollar-settled, rupee-linked bonds as part of a plan to extend the maturity profile of its external debt, Finance Minister Muhammad Aurangzeb announced on Tuesday at the Pakistan Banking Summit 2026.
Aurangzeb stated that requests for proposals (RFPs) have already been issued for these instruments. He explained that the objective is to return to international capital markets and extend the maturities of the country’s external debt.
He added that most of these instruments will replace existing debt rather than add new borrowing, with the specific details of the debt replacement to be finalized moving forward.
The announcement follows Pakistan’s return to global capital markets after a four-year gap. In April 2026, the country issued a Eurobond that drew strong investor demand, prompting the government to exercise its greenshoe option and raise the issue size to $750 million.
This was followed in May 2026 by Pakistan’s first Panda bond worth $250 million which was oversubscribed five times and secured a record-low borrowing cost for a three-year issue.
