dollar denominated and euro denominated senior unsecured notes in two series through an offering to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States to non-U.S.
The notes, due 2028, were issued in a previously announced private placement to certain qualified institutional buyers
and accredited investors.
The portion set aside for qualified institutional buyers
(QIBs) was subscribed 12.29 times, non-institutional investors 4.92 times and retail investors 9.51 times, merchant banking sources said.
Qualified institutional buyers
will be eligible to trade and each certificate will have a face value of Rs100,000.
The Sukuk Issue was approved by PSX under the Regulations governing the Over-the-Counter (OTC) Market of Exchange relating to listing of Debt Securities issued to Qualified Institutional Buyers
through Private Placement, which have now been replaced with Privately Placed Debt Securities' Listing Regulations w.e.f June 14, 2018
The company intends to receive bids from 10 to 30th April 2018 from qualified institutional buyers
. Hussain Agha, Executive Director at Agha Steel Industries, said: 'The Company, through this initiative, shall be able to invest in technologies which will make ASIL at least 30% more energy efficient player than the average manufacturer within the domestic industry.'
According to data available on the NSE website, the portion reserved for qualified institutional buyers
(QIBs) was subscribed 54.27 times, non institutional investors 6.96 times and retail investors 6.01 times.
The notes were sold to qualified institutional buyers
has priced its offering of USD 1.3bn of 11.25% senior secured notes with a maturity date of 15 April 2021 to qualified institutional buyers
within the United States, the company said on Friday.
The notes are being offered and sold only to qualified institutional buyers
The notes are being offered only to qualified institutional buyers