MTC Acts As Transaction Legal Counsel For The Issuance Of Shariah Compliant Sukuk Certificates Of Agha Steel Industries Limited In The Aggregate Amount Of PKR 3.4 Billion

The Firm was engaged by Pak Brunei Investment Company Limited (as the Investment Agent and the Musharaka Agent) and various investors as the transaction legal counsel for the issuance of rated, secured, privately placed/DSLR listed, Shariah compliant Sukuk Certificates under the Islamic mode of diminishing Musharaka by Agha Steel Industries Limited in the amount of PKR 3,400,000,000/- (Pak Rupees Three Billion Four Hundred Million) proposed as a debt swap transaction under which Agha Steel Industries Limited would use the proceeds to settle the outstanding amount of PKR 3,130,000,000/- (Pak Rupees Three Billion One Hundred Thirty Million) with respect to the existing Sukuk Issue of 2018.

The Firm’s scope of work included full scope investor side advisory.

MTC’s team in this matter was led by Vaseeq Khalid (Partner) and included Laraib Saba Turk (Senior Associate) and Yawar Burki (Associate).