TPL Corp Limited Secures Financing with Sukuk and TFC Issues

Karachi: TPL Corp Limited has bolstered its financial position through the issuance of both Sukuk and Term Finance Certificate (TFC) debt securities. The Sukuk, with a five-year tenor and a profit rate of 3-month KIBOR plus 2.25%, has a total issue size of Rs. 2,190,000,000, fully outstanding. The next coupon payment is scheduled for 23 December 2023. In addition, TPL Corp Limited’s TFC, also with a five-year tenor and a higher profit rate of 3-month KIBOR plus 2.50%, has an issue size of Rs. 2,265,000,000, with the same amount outstanding. Investors should note the upcoming coupon date on 28 December 2023.