DHCL to raise Rs 7 billion funds in five years

Dawood Hercules Corporation Limited (DHCL) will raise funds in the form of rated, over the counter listed and secured sukuks (Islamic bonds) to the extent of Rs 7.0 billion for a period of five years. JS Bank has been awarded the mandate for this transaction and will act as the exclusive advisor and arranger to the issues, material information sent to Pakistan Stock Exchange on Monday said.
To procure term finance facility being a combination of Islamic and Syndicate Finance up to an amount of Rs 6.0 billion for a period of five years. The funds will be utilized for investment purposes. Dubai Islamic Bank, Allied Bank Limited and MCB Bank (being part of consortium and syndicate) have been mandated for this transaction.