Karachi November 23 2022: The Pakistan Stock Exchange (PSX) is pleased to notify the listing of Privately Placed, Rated and Secured Term Finance Certificates (TFCs) of PKR 3,500 Million of U Microfinance Bank Limited on the Exchange w.e.f. Thursday, November 24, 2022 pursuant to PSX “Privately Placed Debt Securities’ Listing Regulations”.
Trading in the TFCs will commence from Friday, November 25, 2022 through Bond Automated Trading System (BATS) and will be settled through National Clearing Settlement System (NCSS) on T+1 basis.
The Pakistan Stock Exchange is pleased to notify the listing of Privately Placed, Rated and Secured Term Finance Certificates (TFCs) of PKR 3,500 Million of U Microfinance Bank Limited on the Exchange w.e.f. Thursday, November 24, 2022 pursuant to “Privately Placed Debt Securities’ Listing Regulations”. Trading in the TFCs will commence from Friday, November 25, 2022 through Bond Automated Trading System (BATS) and will be settled through National Clearing Settlement System (NCSS) on T+1 basis.
The tenor of the issue is up to Four (04) years from the Issue Date (including a one year grace period) which is June 23, 2021. 50 % of the Issue Amount will be secured against pari passu charge on the Issuer’s Book Debts, Advances and Receivables with 25% margin and the remaining amount of the Issue will be secured against charge/lien on government securities of a similar Tenor.
In case the Issuer fails to make the Profit/Principal payment on the relevant due date, the Security Agent reserves the right to realize the cash from the government securities placed under lien with the security agent and make payment including principal and interest as falling due to the relevant investor within 05 days of the relevant due date without invoking Event of Default (including but not limited to sending out a notice of default).
