Pakistan has hired banks for a possible foreign currency bond offering, according to people familiar with the matter.
The government has mandated Deutsche Bank, JPMorgan Chase, Credit Suisse Group, Standard Chartered and Emirates NBD Bank PJSC, the people said, asking not to be identified because the details are private.
The South Asian nation is looking to raise funds after reaching an agreement with the IMF on resumption of a $6-billion bailout program that was secured in 2019 to avoid bankruptcy. Pakistan is also separately planning to issue a $500-million green note in the next few months to help boost its development of hydroelectric power.