DHCL proposes sukuk, TFCs

KARACHI: Dawood Hercules Corporation Limited (DHCL) on Monday proposed raising Rs13 billion through two separate instruments — sukuk (Islamic bonds), and term finance certificates (TFCs).

In a statement to the stock exchange, the conglomerate said it will raise amount to the extent of Rs7bn for a period of 5 years in the form of ‘rated, over the counter (OTC) listed and secured sukuk (Islamic bonds) under Section 66 of the Companies Act, 2017 and the Regulations governing the OTC market under Schedule III (Listing of Debt Market Securities issued to Qualified Institutional Buyers (QIBs) through Private Placement). JS Bank has been awarded the mandate for the transaction and would act as the exclusive advisor and arranger for the issue.

TCS opens warehouse for ZTE in Tarnol

KARACHI: A TCS warehouse has been inaugurated for the telecom solutions giant ZTE Corporation in Tarnol, near Islamabad, said a press release.

ZTE aims to place TCS at the forefront concerning all its logistic needs in Pakistan and manage its warehousing and logistics requirements across the country.

Published in Dawn, January 23rd, 2018