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Karachi, Mughal Iron & Steel Industries Limited has announced its Sukuk, MUGHALSC, with a 5-year tenor, listed on the Pakistan Stock Exchange. The issue size is Rs. 3,000,000,000, with an outstanding principal of Rs. 2,437,500,000. The next coupon date is March 2, 2024. This Sukuk issuance is indicative of the company’s use of Islamic finance to bolster its capital structure and fund growth initiatives.
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