PSX lists Bank Alfalah first Shelf Registered Instrument

Bank Alfalah Limited has issued Medium Term Note in the form of Term Finance Certificates (Tranche Series-A) of PKR 11,000 million through Shelf Registration Program, which have been listed on the Pakistan Stock Exchange (PSX) on Thursday.

In his opening remarks, Mr. Farrukh Khan, the MD &CEO of PSX said, “It is indeed a very welcome and positive development for the debt market of Pakistan that Bank Alfalah has issued & listed its Tranche Series-A TFCs of Rs 11 Bn on the Exchange. Bank Alfalah has always been innovative whereby for the first time a shelf prospectus against issuance of Rs 50 Bn TFCs has been approved.”

Meanwhile, the CEO of Bank Alfalah, Mr. Atif Bajwa, stated, “Bank Alfalah would like to thank SECP and PSX for their continued efforts in promoting the capital markets of Pakistan. Our debt capital markets are still at a nascent stage and we appreciate the efforts of all the stakeholders to develop this market based on global best practices.

Congratulating Bank Alfalah on the issuance of their new debt instrument, Mr. Sulaiman Mehdi, Chairman of the PSX Board, stated, “It is for the first time that we are seeing such close coordination between State Bank, SECP, PSX, and the entire financial industry; all are working towards reforms and development of the capital market.”