Shehbaz Opens London Stock Exchange Session, Launches $3bn Eurobond

Prime Minister Muhammad Shehbaz Sharif opened the trading session at the London Stock Exchange on Tuesday, becoming the first Pakistani premier to take part in the ceremony. The event took place at the exchange's headquarters in Paternoster Square and was linked to the formal inauguration of Pakistan's $3 billion dual-tranche sovereign Eurobond.

The prime minister used the occasion to present Pakistan as a market seeking renewed international capital and deeper financial engagement. He told participants that the country had worked in recent years to stabilise its economy and improve key macroeconomic indicators, arguing that those gains had made the investment outlook more promising.

Senior officials attended the ceremony, including London Stock Exchange Group Chief Executive David Schwimmer, Finance Minister Muhammad Aurangzeb, Adviser on Privatisation Muhammad Ali, Pakistan High Commissioner Tipu Usman and members of the official delegation. Their presence placed the bond launch within a broader effort to rebuild links with global financial institutions and capital markets.

The prime minister credited the finance minister and the economic team for arranging the $3 billion transaction. He said the sale reflected structural changes, digitisation of the economy and policy measures aimed at putting national finances back on track after a difficult period for Pakistan's external financing position.

He also pointed to the government's privatisation agenda, mentioning Pakistan International Airlines and First Women Bank as part of the current process. He said the government wanted more state-owned enterprises to be operated by the private sector, adding that this was an area where Pakistan and the United Kingdom could work closely.

The Eurobond was described as Pakistan's largest international bond transaction, with nearly $6 billion in demand from global investors. That demand was almost double the amount raised and came from a geographically diverse group of institutional investors, indicating stronger appetite for Pakistani sovereign paper after recent credit-rating improvements.

The transaction is part of Pakistan's renewed Global Medium-Term Note Programme and follows the country's inaugural Panda Bond. Officials are positioning the programme as part of a debt-management strategy intended to diversify funding sources, lengthen maturities and lower refinancing pressure in the coming years.

Shehbaz also referred to the wider Gulf crisis, saying Pakistan was trying to navigate external challenges while maintaining a role in regional diplomacy. He invited the exchange group's chief executive to visit Pakistan and said Islamabad wanted advice on how to engage international markets beyond sovereign debt, including broader investment opportunities.