JS Bank to exercise call options on TFC’s issued in 2016

KARACHI: A trust deed executed on December 14, 2016, between JS Bank Limited as the issuer and Pak Brunei Investment Company Limited as the trustee, has been redeemed for the outstanding amount as of December 14.

The trust deed pertains to the issuance of privately placed, unsecured, subordinated and redeemable Term Finance Certificates (TFC) amounting to Rs3,000 million and was issued under section 120 of the Companies Ordinance, 1984 now Companies Act, 2017. 

The decision has been approved by the Board of Directors (BoD) of JS Bank Ltd. alongside as well as the State Bank of Pakistan (SBP).