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Karachi, Mughal Iron & Steel Industries Limited has secured a five-year term Sukuk, “MUGHALSC,” listed on the Pakistan Stock Exchange. This financial instrument has a total issue size of Rs. 3 billion, with Rs. 2.4375 billion still outstanding. The Sukuk’s next coupon date is slated for March 2, 2024. Each Sukuk has a market lot of 1 and a significant face value of Rs. 1,000,000, underscoring the company’s approach to diversify its funding sources through Islamic finance.
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