ISLAMABAD - In a bid to attract investors for the sale of OGDCLs Exchangeable Bonds worth $500 million, the Financial Advisory Consortium (FAC) will organise 'Road shows around the world and its transactions is likely to be concluded nearly by the end of current fiscal year 2011, TheNation learnt reliably. Pakistan is gearing up efforts to return to international capital market through sale out the OGDCLs Exchangeable Bonds and the FAC will undertake 'Road Shows for the issuance of $500 million worth of bonds, at Abu Dhabi, Singapore, Zurich, London and Hong Kong from June 19 to 21, official sources informed requesting anonymity, adding Finance Division and Privatisation Commission (PC) would administer this transaction of OGDCLs Exchangeable Bonds worth $500 million. Transaction will be concluded before the close of current fiscal year ((before 30th June), sources added. The financial advisory consortium (FAC) comprising Citibank, Credit Suisse, JP Morgan and BMA Capital, has been assigned the task to issue the exchangeable bonds backed by 10 per cent shares of OGDCL. The representatives of the FAC gave s presentation to the Privatisation Commission Board regarding the transaction structure for the issuance of OGDCLs Exchangeable Bonds. Meanwhile, Ghous Bux Khan Mahar Federal Minister for Privatisation while addressing a meeting of the Board of Privatisation Commission on Tuesday said that the govt was determined to safeguard the interests of the workers during the privatization process. The idea was to empower them by having their representation on the respective Boards of the entities under Benazir Employees Stock Option Scheme (BESOS), he added. During this meeting, the representatives of the FAC gave s presentation to the PC Board regarding the transaction structure for the issuance of Oil & Gas Development Company Limited Exchangeable Bonds. This is a landmark deal under which the consortium has been tasked to monetize up to 10 per cent of Government of Pakistan shareholding in OGDCL via an Exchangeable Bond Transaction. While reviewing the implementation status of the decisions taken during the previous meeting, the PC Board was informed that M/s Bhandari, Naqvi & Riaz and Freshfields Bruckhaus Deringer LLP have being appointed as Issuers Legal Counsel for OGDCL Exchangeable Bonds. Earlier, the PC Board welcomed Shahid Hussain Raja on assumption to the office of Federal Secretary Privatisation Division. Senior representatives of Petroleum & Natural Resources Division, Finance Division, OGDCL, SECP and PC were present on the occasion. It is relevant to mention that Pakistan has been gearing up for its second attempt to launch an offshore exchangeable bond and the deal would mark the countrys return to the international capital markets for the first time since 2007. Pakistan was forced to shelve a similar deal in 2008 because of the global financial crisis, huge deficits and political instability. But this time it hopes to present a picture of improving credit with a current account surplus in the first nine months of the 2010-11 fiscal year.