PKR 2 Billion Short Term Sukuk Issue Of Zarea Limited

Mohsin Tayebaly & Co. was engaged as transaction legal counsel with respect to the issuance of rated, privately placed, unsecured, short-term, Shariah Compliant Sukuk Certificates by Zarea Limited in the aggregate amount of PKR 2,000,000,000/- (Pak Rupees Two Billion) inclusive of a PKR 1,000,000,000/- (Pak Rupees One Billion) green shoe option, for which purpose Bank Islami Pakistan Limited was appointed as the Investment Agent, Al-Hilal Shariah Advisors (Private) Limited acted as the Shariah Advisor and Topline Securities Limited, together with Growth Securities (Private) Limited were the Mandated Lead Advisors & Arrangers.

MTC’s team in this matter was led by Mikael Rahim (Partner) and included Yawar Burki (Associate) and Jehangir Kamran (Associate).