NRL raises Rs10bn through first-ever Sukuk to fund working capital

MG News | July 30, 2026 at 01:17 PM GMT+05:00

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July 30, 2026 (MLN): National Refinery Limited (NRL) has successfully raised PKR 10 billion through its first-ever capital market debt issuance, issuing a rated, unsecured, privately placed short-term Sukuk to diversify its funding sources and support working capital requirements.

In a notice to the Pakistan Stock Exchange (PSX) on Thursday, the company said the Sukuk carries a tenor of six months and is priced at 3-month KIBOR minus 10 basis points per annum.

The issuance has been assigned an A1 short-term rating by the Pakistan Credit Rating Agency (PACRA), reflecting strong capacity for timely repayment of short-term financial obligations.

NRL said the Sukuk marks the company's debut in the domestic capital market debt segment and serves as an alternative source of financing to meet its working capital needs.

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