Pakistan Plans Issue of Bonds Exchangeable for OGDC Stock
Pakistan said it’s planning to meet investors ahead of a proposed issue of bonds exchangeable for shares in Oil & Gas Development Co.
The government will use as much as 10 percent of its shareholding, or 430 million shares, in the company to back the notes, according to the statement from Pakistan’s Privatization Commission.
Citibank NA, Credit Suisse Group AG, JPMorgan Chase & Co., and BMA Capital Ltd. are arranging the transaction and the meetings will start June 19.
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