MTC Engaged For PKR 2.3 Billion Sukuk Issue Of Sitara Chemical Industries Limited

Mohsin Tayebaly & Co. was engaged as transaction legal counsel with respect to the issuance of rated, DSLR listed, secured, long term, Shariah Compliant Sukuk Certificates by Sitara Chemical Industries Limited in the aggregate amount of 2,300,000,000 (Pak Rupees Two Billion Three Hundred Million), for which purpose BankIslami Pakistan Limited was appointed as the Investment Agent and the Issue Agent, Dubai Islamic Bank Pakistan Limited was appointed as the Account Bank, Alhamd Shariah Advisory Services (Private) Limited acted as the Shariah Advisor and Next Capital Limited was mandated as the Financial Advisor & Arranger.

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 Arsalan Abid Bachani (Associate) and Yawar Burki (Associate).

Next Capital Limited’s team was led by Humaira Asad and Shuja Alvi and included Mohammed Qasim .