Masood Textile secures Rs2bn from Sukuk issue to refinance debt
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MG News | October 11, 2024 at 04:03 PM GMT+05:00
October 11, 2024 (MLN): Masood Textile Mills Limited (PSX: MSOT) has successfully completed the Sukuk issue of Rs2 billion carrying a rental rate of 3M KIBOR + 1.75% per annum over a tenor of 5 years (inclusive of an 09 months grace Period).
The purpose of this Sukuk was to repay existing conventional debt and meet the working capital requirement of the company.
This development was announced by the company through a notice issued to the Pakistan Stock Exchange (PSX) today.
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