K-Electric plans to issue Pakistan's largest-ever retail listed Sukuk in private sector worth Rs 25 billion (green shoe option of up to Rs 5 billion) with seven-year tenor. The planned bond has been rated AA+ by VIS Credit Rating Agency.

A KE statement said senior members of K-Electric and Pak-Brunei Investment Co Ltd (Trustees for the Sukuk issue) signed the Sukuk documents along with representatives of HBL and NBP. Habib Bank is the exclusive Shariah structuring advisor, while HBL and NBP are joint structuring agents for the transaction.-PR

Copyright Business Recorder, 2019