April 20, 2023 (MLN): Bank Alfalah Limited's privately placed, rated, unsecured, subordinated, non-cumulative and perpetual (AT-1) Term Finance Certificates (TFCs) of Rs7 billion are going to be listed on the Pakistan Stock Exchange (PSX) on Wednesday, April 26, 2023, according to the notification issued by the bourse on Thursday revealed.
The Trading in the TFCs will commence on Thursday, April 27, 2023, through Bond Automated Trading System (BATS) and will be settled through National Clearing Settlement System (NCSS) on T+1 basis.
The TFCs offer a floating coupon rate of 6 months KIBOR plus 200 bps for the period at the end of which the bank is compliant with minimum capital requirement, capital adequacy ratio and/or leverage ratio.
Pak Brunei Investment Company Limited is acting as the issue agent, the notice further added.
Only Qualified Institutional Buyers (QIBs), as defined in Chapter 5C of the PSX Rule Book, are allowed to trade in the TFCs of the bank.
Meanwhile, the market lot will be one certificate of the face value of Rs5,000/- each.
The bank has not appointed a designated market maker for this issue.
