K-Electric Limited Secures Financing through Sukuk with a Seven-Year Tenor

Karachi, (PPI Bot): In the energy sector, K-Electric Limited has structured a financing instrument through Sukuk, coded as KELSC6. Each market lot is priced at PKR 100,000 and has a maturity period of seven years. With a profit rate pegged to 3M KIBOR + 1.7%, the Sukuk offers a robust investment opportunity. The total issue size stands at PKR 6.7 billion, equivalent to the outstanding principal, assuring a well-backed security. The upcoming coupon payment is scheduled for November 23, 2023.