Askari Bank Limited Issues Perpetual and 10-Year TFC

Karachi, Askari Bank Limited has made significant moves in the privately placed debt securities market. The bank issued a “Tier-I” TFC (Traded Finance Certificate), symbol AKBLTFC6, with a face value of Rs. 1,000,000. This perpetual debt security has a total issue size of Rs. 6,000,000,000, and the next coupon date is set for 3rd January 2024. Askari Bank Limited also introduced a “Tier-II” TFC, symbol AKBLTFC7, with a face value of Rs. 1,000,000 and a tenor of 10 years. The total issue size for this security is also Rs. 6,000,000,000, and the next coupon date is 17th December 2023.