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Pakistan Raises $2 Billion in Eurobonds

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The government of Pakistan has raised US$ 2 billion in international debt markets by issuing Eurobonds in terms of 5 years and 10 years. The offering was oversubscribed (over 400 orders) receiving US$ 5.2 billion in offers – it was the biggest single amount the government of Pakistan has ever raised. However, according to Moody’s, Pakistan has a junk credit rating of Caa1.

For the 5-year bonds, the Pakistan Ministry of Finance noted that 59% of investors were based from the United States, 29% from Europe, 10% from Asia and the rest elsewhere.

Back in 2007, the Musharraf administration raised 10-year bonds at 6.75% interest.

5-Year, US$ 1 Billion, 7.25%
10-Year, US$ 1 Billion, 8.25%

HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Contemplates Investing in SoftBank Vision Fund

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Bahrain-based Mumtalakat Holdings is interested in joining a chorus of sovereign funds committing capital to Japan-based SoftBank Group’s Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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