Pakistan has initiated a dual-tranche Eurobond offering denominated in US dollars, with five-year and ten-year maturities, as Islamabad seeks to consolidate its re-entry into international capital markets following recent sovereign credit rating upgrades. The move comes less than five months after Pakistan ended a four-year absence from international bond markets in April, when it raised $750 million through a three-year Eurobond and repaid a separate $1.4 billion bond that had matured. The longer maturities of the new offering — beyond the three-year tenor used in April — will serve as a gauge of international investor confidence in Pakistan's fiscal trajectory, with final pricing and issue size still to be determined by market demand.