ISLAMABAD: The Government of Pakistan has successfully raised US$ 1.0 billion through the issuance of International Sukuk. The transaction generated great interest as leading global investors from Asia, Middle East, Europe and the US participated in the order book. The transactions success is a testimony to the investors’ confidence in the country’s economic revival and long-term stability and growth. The response was overwhelmingly strong and the order-books were oversubscribed (peaked at US$ 2.7 billion) consisting of orders from high quality investors. After careful consideration, the Government decided to raise US$ 1 billion.
This is the first issuance under the Government’s newly established ‘Trust Certificate Issuance Programme’ and the first time that Government has issued International Sukuk with a 7 Year maturity. The program will allow Pakistan to tap the market at short notice. The Government intends to make full use of this program and become a regular issuer of sukuk in the International Capital Markets.
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This press release does not contain or constitute an offer of, or the solicitation of an offer to buy, securities to any person in the United States or in any jurisdiction to whom or in which such offer or solicitation is unlawful, and persons into whose possession this press release comes should inform themselves about, and observe, any such restrictions. The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state of the United States or other jurisdiction, and such securities may not be offered or sold, directly or indirectly, within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws.
Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of the securities in the United States.
This press release is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as relevant persons) or (iv) other persons to whom this press release may otherwise be distributed without contravention of the Order. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this press release or any of its contents.
