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

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