New Issue: Pakistan prices $2 billion five-, 10-year notes

By Christine Van Dusen

Atlanta, April 8 - Pakistan priced a combined $2 billion of five- and 10-year notes (Caa1/B-/) on Tuesday, a market source said.

The $1 billion notes due 2019 priced at par to yield 7¼% following talk in the mid-7% area.

The $1 billion notes due 2024 priced at par to yield 8¼% after talk in the mid-8% area.

BofA Merrill Lynch, Barclays, Citigroup and Deutsche Bank were the bookrunners for the Rule 144A and Regulation S deal.

Issuer:	Pakistan
Amount:	$2 billion
Description:	Notes
Bookrunners:	BofA Merrill Lynch, Barclays, Citigroup, Deutsche Bank
Trade date:	April 8
Settlement date:	April 15
Ratings:	Moody's: Caa1
	Standard & Poor's: B-
Distribution:	Rule 144A and Regulation S
Five-year notes
Amount:	$1 billion
Maturity:	April 15, 2019
Coupon:	7¼%
Price:	Par
Yield:	7¼%
Price talk:	Mid-7% area
10-year notes
Issuer:	$1 billion
Amount:	April 15, 2024
Coupon:	8¼%
Price:	Par
Yield:	8¼%
Price talk:	Mid-8% area

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