Mughal Iron & Steel Industries : Issuance of Sukuk Certificates
December 29, 2023 at 04:56 am EST
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MISIL/Sukuk-II/2023
December 29, 2023
The General Manager
Pakistan Stock Exchange Limited,
Stock Exchange Building,
Stock Exchange Road,
Karachi.
By PUCAR & Courier
DISCLOSURE OF MATERIAL INFORMATION
Dear Sir,
We wish to inform you that Mughal Iron & Steel Industries Limited (the Company) has raised and received PKR 2,500,000,000/- (Pak Rupees Two Billion Five Hundred Million) inclusive of a green shoe of up to PKR 1,000,000,000/- (Pak Rupees One Billion) (the "Sukuk Issue") in its designated bank account by successfully issuing Rated, Privately Placed, Secured, Sukuk (Islamic Bonds) to Qualified Institutional Buyers (QIBs) for a period of 15 Months for meeting the working capital requirements of the Company, the instrument carries profit at the rate of 3MK+1.45%-.
You may please inform the TRE Certificate Holders of the Exchange accordingly.
Yours Sincerely,
For MUGHAL IRON & STEEL INDUSTRIES LIMITED
MUHAMMAD FAHAD HAFEEZ
(Company Secretary)
The Director / HOD
(Surveillance, Supervision and Enforcement Department), Securities & Exchange Commission of Pakistan, Islamabad.
The Director (Enforcement Department), Securities & Exchange Commission of Pakistan, Islamabad.
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Mughal Iron & Steel Industries Ltd. published this content on 29 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 December 2023 09:55:38 UTC.
Mughal Iron & Steel Industries Limited is a Pakistan-based steel company. The Company is involved in multidimensional activities, including making billets of mild steel, spring steel, deformed bar, re-bar, cold twisted rebar, and a range of sections, such as I.Beams, L.Sections, C.Section, H.Beam, T.Bar, and other in the downstream industry. The Company has two segments. The ferrous segment comprises long-rolled mild steel related products. The non-ferrous segment comprises copper and related waste items. It offers its products under various categories, including Smelting, such as Ferro Silicomanganese, Ferro Chrome and Ferro Silicon; Billet, such as Mild Carbon Billets, Spring Steels, Austentic Stainless Steel, Ferrite Stainless steels, and Alloys Steels; Bars, including Deformed Bars, Re-inforcement Bars, and Thermax Bars; Beams, including I Beams (Girders), Angle Section (L Section), T Bar (T section) and C Channel, and Grade and Specifications.