Karachi August 1 2022: The Board of Directors of Soneri Bank Limited has approved to raise Tier-2 Capital as Redeemable Capital under Section 66 of the Companies Act, 2017 and Basel III guidelines of State Bank of Pakistan (“SBP”), in the form of listed, rated, subordinated and unsecured Term Finance Certificates (“TFC-III”) up to the extent of the face value of PKR 4,000,000,000/- (Pak Rupees Four Billion), according to banks filing to the exchange.
Issuance of TFC is for the purpose of the Bank business operations through issuance of Redeemable Capital to the general public and/or eligible institutional and other investors, subject to obtaining of all applicable Corporate and Regulatory approvals and completion of necessary formalities.
