ID :
166911
Wed, 03/09/2011 - 20:11
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http://m.oananews.org//node/166911
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Issuance of USD 700 mn OGDC bonds approved- Alfalah Securities Limited
Karachi, March 09, 2011 (PPI): The issuance of international bonds for OGDC has been approved by the Cabinet Committee of Pakistan in order to raise USD 700 mn.
According to Alfalah Securities Limited, Pakistan is seeking ways to generate funds which could be done by issuing convertible and exchangeable bonds in local and international markets. Prospects of convertible or exchangeable bonds of Oil and Gas Development Company OGDC, Pakistan Petroleum Limited (PPL) and other entities are under consideration. The plan includes power, oil and gas, insurance and banking sectors in which OGDC, SLIC, PPL, IESCO, FESCO, KAPCO, NICL, HBL and NBP. The government is planning to go for these transactions to mobilize revenues. Floating convertible and exchangeable bonds would be difficult to float in the local and international markets as the situation is not favourable.
According to Alfalah Securities Limited, Pakistan is seeking ways to generate funds which could be done by issuing convertible and exchangeable bonds in local and international markets. Prospects of convertible or exchangeable bonds of Oil and Gas Development Company OGDC, Pakistan Petroleum Limited (PPL) and other entities are under consideration. The plan includes power, oil and gas, insurance and banking sectors in which OGDC, SLIC, PPL, IESCO, FESCO, KAPCO, NICL, HBL and NBP. The government is planning to go for these transactions to mobilize revenues. Floating convertible and exchangeable bonds would be difficult to float in the local and international markets as the situation is not favourable.
