Asian Development Bank sells PKR-linked bonds for $10 million

• ADB has sold Pakistani-rupee linked bonds worth $10 million
• The Karakoram bonds were sold on January 28
• Notification issued by ADB says bonds were purchased by two investors from Europe

The Asian Development Bank (ADB) has sold Pakistani-rupee linked bonds worth $10 million, Geo Urdu reported Friday.

According to the article, a notification issued by the ADB said that the Karakoram bonds, linked with the Pakistani currency, were sold on January 28. It added that the bonds were purchased by two investors from Europe.

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The Karakoram bond is an offshore bond denominated in Pakistan rupees and settled in US dollars, listed on a major stock exchange and settled through an international central securities depository.

The ADB said that the Karakoram bond will enable Pakistan to earn Rs60 billion over a period of five years. The bank has issued these bonds before too, the notification added.

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