Askari Bank Limited Issues Tier-I and Tier-II TFCs

Karachi, Askari Bank Limited has issued two types of debt securities, “TFC (Tier-I)” (AKBLTFC6) and “TFC (Tier-II)” (AKBLTFC7), demonstrating a strong performance in the financial market. The Tier-I TFC, with a market lot of 1 and a face value of Rs. 1,000,000, offers a perpetual tenor and a profit rate of “6M KIBOR + 1.5%”. The Tier-II TFC, also with a market lot of 1 and the same face value, offers a tenor of 10 years and a profit rate of “3M KIBOR + 1.2%”. Both issues have a total size of Rs. 6,000,000,000 each, with an equal amount in outstanding principal. The next coupon dates are set for 03-01-2024 and 17-Mar-2024, respectively.