Karachi, The Pakistan Stock Exchange (PSX) has announced the listing of Privately Placed, Rated, and Secured Term Finance Certificates (TFCs) of PKR 1,575 million by TPL Properties Limited. The listing, effective from April 01, 2024, follows Chapter 5C of the PSX Rule Book related to 'Privately Placed Debt Securities' Listing Regulations. Trading of the TFCs will begin on April 02, 2024, via PSX's trading platforms and will be settled through the National Clearing Settlement System (NCSS) on a T+1 basis.

The TFCs, with a tenor of up to 1 year from the issue date, offer a floating coupon rate of 3 months KIBOR plus 200 basis points per annum. Pak Oman Investment Company Limited serves as the Issue Agent. Only Qualified Institutional Buyers (QIBs), as defined in Chapter 5C of the PSX Rule Book, are permitted to trade in the TFCs. The market lot is one certificate with a face value of PKR 1,000,000 each. THK Associates (Pvt.) Limited is designated as the Registrar/Transfer Agent for the TFCs, located at Plot No 32-C, Jami Commercial Street-2, D.H.A Phase VII, Karachi.

The National Clearing Company of Pakistan Limited has assigned the security symbol "TPLPTFC2" to the TFCs. The Indicative Term Sheet attached provides further details on the issue for all concerned parties.

Investors in the TFCs include a range of institutional players, such as the PIA Employees Provident Fund Trust, Alfalah Financial Sector Income Fund- PLAN I, and notable entities like Pakistan Mobile Communications Limited Provident Fund and Habib Bank Limited, highlighting a diverse investor base. The funds raised are earmarked for financing the company's working capital requirements and settling short-term borrowings.