PM Khan launches WAPDA’s first green Eurobond
Monday May 31, 2021
Islamabad: Prime Minister Imran Khan on Monday launched Pakistan’s first green Eurobond ‘Indus Bond’ worth USD 500 million with a market cap of 7.5% – introduced by the Water and Power Development Authority (WAPDA), a news source reported. The bonds attracted major financial institutes from around the world. The premier spoke at length about the benefits of long-term planning that will assist the national economy. He also reiterated his resolve to build more dams to address the water and energy crisis of the country. He said that we need to utilize the potential of the youth and the resources to create wealth and promote industrialization in the country. Previously, the Water and Power Development Authority (WAPDA) floated Indus green Eurobonds in the international market. The Category S bonds were released in the London Stock Exchange. The bonds are being managed by the JP-Morgan which has returned to the country after more than a decade. The WAPDA chairman associated the huge interest of the international companies in bonds to the success of Pakistan’s economic and fiscal policies. The bonds are valued at PKR 50 million yet they received a total bid of USD 3 billion, six times the original value, and are released for a period of 10 years.
