Corporate bonds: KESC raises Rs2b through TFC

KARACHI:

Karachi Electric Supply Company (KESC) declared that the Rs2 billion AZM Term Finance Certificates has been fully subscribed.

The entire subscription was completed within the first six weeks of the three month period, says a press statement issued on Tuesday. The capital raised through this bond float will be utilised for financing KESC’s working capital requirements.  The certificate is available in three maturities. Profit rate for the 13-month issue is 13.00% per annum, 14.75% per annum for the three-year issue and 15.50% per annum for the five-year issue.

Published in The Express Tribune, July 11^th, 2012.