BankIslami successfully completed private placement of Sukuk worth Rs. 650 million for Amtex Textiles Limited.
It has been structured under Diminishing Musharakah mode fully guaranteed by Bank of Punjab, BankIslami was the lead advisor and the lead arranger to the issue. With an instrument rating of 'A+' assigned by JCR - VIS Credit Rating Agency, the issue has been well received in the market and was oversubscribed. Funds from the SUKUK issue will be utilised towards swapping of existing credit lines available to conventional banks with Islamic mode of financing.
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