MUGHAL successfully issues Rs2bn commercial paper for working capital needs

MG News | April 10, 2023 at 09:58 AM GMT+05:00

0:00

April 10, 2023 (MLN): Mughal Iron & Steel Industries Limited (PSX: MUGHAL) has successfully issued rated, privately placed, unsecured, commercial paper worth Rs2 billion for a period of 270 days, the company's filing on PSX showed.

The move is aimed at fulfilling the working capital requirements of the company.

The said instrument issued a profit rate of 6MK+1.50/-.

The commercial paper has been rated and privately placed, and is unsecured, which is a reflection of the confidence that investors have in the company.

MUGHAL is a leading player in the steel industry in Pakistan and has a strong track record of delivering quality products and services to its customers.

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