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Karachi, Mughal Iron & Steel Industries Limited has entered the debt market with a five-year bond, part of its efforts to secure long-term financing.
The bond has a face value of Rs. 1,000,000 per unit, with an interest rate based on the 3-month KIBOR plus 1.3%. The outstanding principal for this issuance is Rs. 1.5 billion, with the next coupon payment due on June 2, 2024.