Crescent Steel and Allied Products to issue Sukuk worth Rs800mn

MG News | September 16, 2022 at 12:50 PM GMT+05:00

0:00

September 16, 2022 (MLN): The Board of Directors of Crescent Steel and Allied Products Limited have approved the issuance of privately placed, secured, untradeable long-term Sukuk of Rs800 million, company’s filing on the bourse showed today.

The Sukuk will be issued for a tenure of 3 years repayable in 6 semi-annual instalments.

The proceeds of Sukuk will be primarily utilized to fund working capital requirements, the company said.

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