KARACHI: Trading in the privately placed Rs7 billion bond of Bank AL Habib Ltd will commence on the Pakistan Stock Exchange (PSX) on Wednesday.
Locally known as a term finance certificate (TFC), the debt instrument will contribute towards the bank’s Additional Tier 1 Capital for the capital adequacy ratio (CAR). This category of capital consists of instruments that aren’t equity but can be converted into shares in case a trigger event occurs.
The Rs7bn issue amount is inclusive of a Rs3bn green-shoe option, which allows the underwriter to increase the size of the transaction if the demand is high.
Published in Dawn, September 27th, 2022
Read more
On DawnNews
Dear visitor, the comments section is undergoing an overhaul and will return soon.