Askari Bank to redeem Rs6bn TFCs via Call Option

MG News | August 15, 2025 at 09:52 AM GMT+05:00

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August 13, 2025 (MLN): Askari Bank Limited (PSX: AKBL) has decided to exercise the call option on its Rated, Subordinated, and Unsecured Term Finance Certificates (TFCs) worth Rs6 billion, according to a material disclosure submitted to the Pakistan Stock Exchange (PSX).

The bank will redeem the entire principal amount of the TFCs along with accrued profit on September 17, 2025, the designated Option Redemption Date.

The redemption will be carried out following Clause 3.12 of the Trust Deed dated December 24, 2019, and Clause 27 of the Terms and Conditions outlined in the deed’s Schedule 2.

To determine entitlement under the call option, the transfer books for the TFCs will be closed from September 2 to September 16, 2025.

Transfers received by the registrar, CDC Share Registrar Services Limited, by the close of business on September 1, 2025, will be considered eligible.

The bank emphasized that the redemption will be subject to applicable deductions of Zakat and tax at source.

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