NEW YORK, March 24: Pakistan on Thursday sold $800 million in a two-part — 10 and 30 years — global bond deal, financial market sources told Dawn It sold $500 million in notes maturing March 31, 2016 at a 7.125 per cent coupon, priced at par to yield 239.6 basis points over US Treasuries.

The $300 million in notes maturing March 31, 2036, were sold at a 7.875 per cent coupon, priced at par to yield 301.8 basis points over US Treasuries.

Demand for the 10-year bond was above $1.3 billion, while demand for the 30-year was around $700 million, a source familiar with the deal said.

Deutsche Bank, Citigroup and JP Morgan were the lead managers of the bond issue which is rated “B2” by Moody’s Investors Service and “B+” by Standard & Poor’s. The issue settles on March 30.

Investors had been expecting smaller amounts for the deals, such as a $500 million tranche for the 10-year and just $250 million for the 30-year.

Pakistan, returned to the international debt market for the third time since 2004, when it issued a $500 million five-year eurobond. In January 2005 it sold a $600 million Islamic bond.