KARACHI: Panther Tyres Limited (PSX: PTL) has successfully redeemed its privately placed short-term Sukuk certificates worth Rs2 billion, marking the full settlement of the Islamic financing instrument upon its maturity.
In a notification submitted to the Pakistan Stock Exchange (PSX), the company announced that the Sukuk, amounting to Rs2,000,000,000, matured on June 30, 2026. Along with the principal amount, Panther Tyres also paid all accrued profit due to certificate holders, fulfilling its financial commitments in full.
The company stated that all obligations related to the Sukuk issuance have been discharged in accordance with the terms and conditions of the issue. The successful redemption reflects Panther Tyres’ commitment to maintaining financial discipline and honoring its debt obligations on time.
The disclosure was made in compliance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1(a) of the Pakistan Stock Exchange Rule Book. The company also requested the PSX to disseminate the information to TRE Certificate Holders.
The redemption of the Sukuk is expected to strengthen investor confidence by demonstrating the company’s sound liquidity management and ability to meet its financing commitments as scheduled.
