A listed Pakistani company has successfully raised PKR 10 billion through the issuance of its first-ever Rated, Unsecured, Privately Placed Short-Term Sukuk, marking a significant milestone in its capital market financing strategy. The announcement was made through a material information disclosure submitted to the Pakistan Stock Exchange (PSX).
According to the notification, the Sukuk has a tenor of six months and is priced at 3-month KIBOR minus 10 basis points per annum, offering a competitive financing structure. The instrument has also been assigned an A1 short-term credit rating by PACRA, reflecting a strong capacity to meet its financial obligations.
The company stated that this is its first capital market debt instrument, representing a strategic step toward diversifying its funding sources beyond conventional financing. The proceeds from the Sukuk issuance will primarily be utilized to meet working capital requirements, enabling the company to support its operational activities more efficiently.
The successful completion of the Sukuk issuance highlights growing confidence among investors in Shariah-compliant corporate debt instruments and demonstrates the company’s ability to access alternative financing channels. Such transactions also contribute to the development of Pakistan’s Islamic capital market by expanding the range of financing options available to corporate issuers.
The company informed the Pakistan Stock Exchange that the issuance had been completed successfully in accordance with the applicable provisions of the Securities Act, 2015 and the PSX Regulations.
