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Karachi, United Bank Limited has announced the launch of “TFC (Tier-I)” with an interest formula of 3M KIBOR + 1.55%. The securities, each with a face value of Rs. 5,000, have a total issue size of Rs. 10,000,000,000, with the entire amount still outstanding. Aimed at enhancing the bank’s capital base, these perpetual TFCs are scheduled for their next coupon payment on April 29, 2024.
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