Askari Bank Limited Issues Perpetual and 10-Year TFCs

Karachi, In a strategic financial move, Askari Bank Limited has announced the issuance of two types of Term Finance Certificates (TFCs). The first, AKBLTFC6, is a Tier-I perpetual TFC with an issue size of Rs. 6 billion, all of which remains outstanding. The next coupon date for this security is January 3, 2024. Concurrently, the bank has issued a Tier-II TFC, AKBLTFC7, also valued at Rs. 6 billion and with the same outstanding amount, set for a ten-year term. The forthcoming coupon date is December 17, 2023.