'Junk borrower' Pakistan raises $3 billion through a two-part bond sale

Pakistan, considered a "junk-rated" borrower, has managed to raise $3 billion from global investors through a two-part bond deal. Pakistan sold $1.75 billion of five-year debt at a yield of 7.75% and $1.25 billion of 10-year debt at 8.25%. "Junk-rated" borrower means rating agencies believe there is a higher risk that the country could face trouble repaying its debt.