Thatta Cement Company Limited (PSX: THCCL) has announced the successful closure of its Rated, Secured, Listed, and Privately Placed Long-Term Islamic Sukuk, valued at Rs. 5.5 billion.
In a notice to the Pakistan Stock Exchange (PSX) on Monday, the company said the Sukuk has a tenor of four years and offers investors a return of six-month KIBOR plus 2.5%, with principal and profit payments to be made on a semi-annual basis.
The instrument has been assigned a “AA-” rating by VIS Credit Rating Company Limited.
Thatta Cement expressed its gratitude to investors for their confidence and participation in the Sukuk issuance and acknowledged AKD Securities Limited, the Financial Advisor and Arranger, for its guidance and support throughout the transaction.
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“We sincerely thank all stakeholders, investors, and advisors whose trust and contributions ensured the successful completion of this transaction,” the company stated.
