Bank Alfalah to issue Medium Term Note program of upto PKR 50 billion

MG News | August 05, 2020 at 02:29 PM GMT+05:00

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August 5, 2020 (MLN): Bank Alfalah Limited is intending to issue a Medium Term Note (MTN) Program of upto PKR 50 billion to hedge its fixed-rate assets, PSX announced on Wednesday.

The MTN Program will be in the form of Rated, Secured, Listed, Redeemable Fixed Term Finance Certificates (TFCs), that too in multiple tranches having individual instrument maturity of 3 years or more by way of a combination of Pre-IPO placement and Initial Public Offering through Pakistan Stock Exchange.

The announcement further said that the instrument will be secured against government securities.

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