Karachi, Engro Polymer and Chemicals Limited (the Company) has completed the payment of the redemption amount to the note holders of its Sukuk-1 issuance. The Company had issued 87,500 notes of Rated, Secured, and Privately Placed Sukuk-1 with an aggregate issue amount of Rs. 8,750 million on January 11, 2019.

According to the auditors' certificate, the final book closure date for the Sukuk-1 was observed from December 26, 2022, to December 28, 2022. Following this, the Company paid an aggregate redemption amount of Rs. 9,057.662 million, net of withholding income tax amounting to Rs. 3.296 million, to the note holders as of January 5, 2023.