October 5, 2016 / 5:16 PM / a year ago

Pakistan says close to finalising $1 bln sukuk deal - finance ministry

ISLAMABAD, Oct 5 (Reuters) - Pakistan will issue a dollar-denominated sukuk for $1 billion in the coming hours, the finance ministry said on Wednesday, in a deal which sees the country return to the international sukuk market after a two-year absence.

“After the completion of the book building process, the allocation and pricing of international sukuk 2016 is expected to be completed later tonight,” the finance ministry said in a statement, adding that the debt instrument would have a maturity of five years.

Pakistan last raised $1 billion via sukuk in late 2014. (Reporting by Drazen Jorgic; Editing by Hugh Lawson)

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