At-Tahur Limited issues PKR 900 million Sukuk for working capital financing

At-Tahur Limited (ATL) has announced the issuance of Islamic Sukuk III Certificates worth PKR 900 million to facilitate its working capital needs, the company announced through a notice sent to the PSX. The Sukuk will be issued under the guidelines of the Securities and Exchange Commission of Pakistan (SECP) and the Sukuk (Privately Placed) Regulations, 2017.

The Sukuk will be priced at 3M KIBOR + 1.3% per annum, with a base rate set quarterly based on the Karachi Inter Bank Offered Rate (KIBOR). The funds raised will be used to manage the company's working capital requirements.

A portion of the Sukuk, totaling PKR 200 million, will be offered as a green option, reflecting the company's focus on sustainable financing. The Sukuk's redemption will be paid quarterly over its term, starting from April 1, 2026, with a principal amount of PKR 900 million and rental payments of PKR 26.52 million.

The issuance has been structured through private placement to qualified institutional buyers, with At-Tahur Limited being backed by a strong credit rating from VIS Credit Rating Company.

At-Tahur limited is a milk and dairy processing company based in Lahore which sells its products under the brand name of Prema.