JS Bank raises Rs4 billion through Tier 2 term finance certificates
Rated, privately placed debt issue completed for institutional investors after State Bank approval
JS Bank Limited has raised Rs4 billion by issuing Tier 2 capital in the form of Term Finance Certificates to institutional investors, according to a notice sent to the Pakistan Stock Exchange on Monday.
The bank said the rated, privately placed, unsecured and subordinated debt instrument was issued after receiving approval from the State Bank of Pakistan and completing the related transaction documents.
The Term Finance Certificates are intended to be subsequently listed in accordance with the Debt Securities Listing Regulations.
The bank did not disclose the maturity, pricing, profit rate or investor allocation details of the issue.
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