Askari Bank Limited Issues Perpetual and Fixed-Term Debt Securities

Karachi: Askari Bank Limited has issued perpetual and fixed-term debt securities. The perpetual Tier-I TFC, with a market lot of 1 and a face value of Rs. 1,000,000, offers a profit rate of 6-month KIBOR plus 1.5%, totaling Rs. 6,000,000,000 with the full amount outstanding. The next coupon date is set for 03 January 2024. Similarly, the Tier-II TFC for ten years, pegged at 3-month KIBOR plus 1.2%, also amounts to Rs. 6,000,000,000 with the same outstanding. Its coupon payment is due on 17 December 2023.