{"id":76320,"date":"2021-05-28T10:00:00","date_gmt":"2021-05-28T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=76320"},"modified":"2021-05-28T18:29:03","modified_gmt":"2021-05-28T13:29:03","slug":"wapda-usd-500-mn-eurobonds","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/wapda-usd-500-mn-eurobonds.html","title":{"rendered":"WAPDA eyes generating USD 500 mn through Eurobonds"},"content":{"rendered":"\n<p>Lahore: The Water and Power Development Authority (WAPDA) has decided to float its first Green Eurobond, called Indus Bond, to raise USD 500 million, the news story read. The 10-year Indus bonds will be available at a 7.5% interest rate.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/kp-govt-wapda-to-announce-uplift-package-for-mohmand-district.html\" target=\"_blank\" rel=\"noreferrer noopener\">KP govt, WAPDA to announce uplift package for Mohmand district<\/a><\/p>\n\n\n\n<p>Reportedly, even before the official launch ceremony on May 31, the bonds have already attracted USD 3 billion from international investors, six times what WAPDA initially envisioned. Some of the largest financial organizations including Goldman Sachs, Blackrock, Bluebay, Fidelity, Ashmore, Amundi, and UBS have shown their interest in these bonds already.\u00a0<\/p>\n\n\n\n<p>WAPDA Chairman retired Lt Gen Muzammil Hussain while talking to the media, expressed his pleasure on the development and dubbed it as a show of investors&#8217; confidence in WAPDA and particularly in Pakistan.<\/p>\n\n\n\n<p>WAPDA is raising USD 500 million through Indus bonds out of USD 2.2 billion it needs for the next five years. The bonds are expected to increase in numbers as the new dam projects start.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/cabinet-waives-income-taxes-bonds-attract-foreign-investors.html\" target=\"_blank\" rel=\"noreferrer noopener\">Cabinet waives income taxes on bonds to attract foreign investors<\/a><\/p>\n\n\n\n<p>The new Indus bonds were floated in category Reg-S in London Stock Exchange with a market cap rate of 7.5% much higher than the 7.35% of Pakistan Sovereign Bond, which is expected to mature in 2031. The <a href=\"https:\/\/www.zameen.com\/news\/pakistan-launch-panda-bonds-worth-usd-1-bn.html\" target=\"_blank\" rel=\"noreferrer noopener\">bonds<\/a> will help to fund cash-intensive energy projects.\u00a0<\/p>\n\n\n\n<p>The source also said that the third-party evaluation of the bonds has shown confidence in the venture, while they have not put any monetary obligation on the government. The report released also shows that JP Morgan bank is managing the bonds with Habib Bank Limited (HBL), Standard Chartered, and Deutsche as co-managers.\u00a0<\/p>\n\n\n\n<p>Leading financial experts have expressed their confidence in the development and urged the government to plan more such projects.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The Water and Power Development Authority (WAPDA) has decided to float its first Green Eurobond, called Indus Bond, to raise USD 500 million, the news story read. The 10-year Indus bonds will be available at a 7.5% interest rate.\u00a0 Read: KP govt, WAPDA to announce uplift package for Mohmand district Reportedly, even before the official launch ceremony on May 31, the bonds have already attracted USD 3 billion from international investors, six times what WAPDA initially envisioned. Some of the largest financial organizations including Goldman Sachs, Blackrock, Bluebay, Fidelity, Ashmore, Amundi, and UBS have shown their interest in these bonds already.\u00a0 WAPDA Chairman retired Lt Gen Muzammil Hussain while talking to the media, expressed his pleasure on the development and dubbed it as a show of investors&#8217; confidence in WAPDA and particularly in Pakistan. WAPDA is raising USD 500 million through Indus bonds out of USD 2.2 billion it needs for the next five years. The bonds are expected to increase in numbers as the new dam projects start.\u00a0 Read: Cabinet waives income taxes on bonds to attract foreign investors The new Indus bonds were floated in category Reg-S in London Stock Exchange with a market cap rate of&hellip;<\/p>\n","protected":false},"author":84,"featured_media":76319,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15017],"tags":[46077,46078,46076,25031],"persona":[],"class_list":{"0":"post-76320","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-notices-announcements","9":"tag-green-eurobond","10":"tag-indus-bonds","11":"tag-wapda-eyeing-usd-500-million-through-eurobonds","12":"tag-water-and-power-development-authority-wapda","13":"cat-15016-id","14":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>WAPDA eyes generating USD 500 mn through Eurobonds - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: The Water and Power Development Authority (WAPDA) has decided to float its first Green Eurobond, called Indus Bond, to raise USD 500 million, the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/wapda-usd-500-mn-eurobonds.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WAPDA eyes generating USD 500 mn through Eurobonds - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: The Water and Power Development Authority (WAPDA) has decided to float its first Green Eurobond, called Indus Bond, to raise USD 500 million, the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/wapda-usd-500-mn-eurobonds.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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