PIA to issue 10-yr Sukuk worth Rs20bn

News Image

By MG News | July 14, 2021 at 02:37 PM GMT+05:00

0:00

July 14, 2021 (MLN): Pakistan International Airlines (PIA) will issue a 10-year Sukuk, amounting to Rs20 billion inclusive of Rs5 billion greenshoe option.

The purpose of the Islamic bond issue is to meet its permanent working capital requirements and for the settlement of part of its existing financing facilities, both conventional and Islamic.

The Sukuk will come inclusive of a two-year grace period and will be repaid in 96 equal monthly installments. It will be classified as a “public sector Sukuk” and will be privately placed and 100% backed by a government guarantee.

Furthermore, the National Bank of Pakistan, BankIslami Pakistan Limited, and BIPL Securities have been given the mandate to act as joint book-runners for the issue.

BankIslami is also acting as advisor and investment agent for the Sukuk issuance.

The book-building process for the listing of Sukuk has started on July 13, 2021, and will continue till July 14, 2021.

The Sukuk will be allotted on July 16, 2021, and will be subsequently listed on the Pakistan stock exchange by August.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 11:58 PM GMT+05:00

Weekly Market Roundup


July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg