The Pakistan Credit Rating Agency Limited
30-Jul-19
Analyst
Raniya Tanawar
raniya.tanawar@pacra.com
+92-42-35869504
www.pacra.com
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Engro Fertilizers Limited redeems Sukuk-III | July-14 fully redeemed; rating withdrawn
| Issuer | Engro Fertilizers Limited |
| Instrument | Sukuk-III |
| Amount | PKR 3200 mln |
| Issuance Date | 08-Jul-14 |
| Tenor | 5 Years |
| Redemption Date | 09-Jul-19 |
| Outstanding Amount | - |
| Rating Type | Debt Instrument | |
|
Current (30-Jul-19 ) |
Previous (28-Jan-19 ) |
|
| Action | Redeem | Maintain |
| Long Term | - | AA |
| Short Term | - | - |
| Outlook | - | Stable |
| Rating Watch | - | - |
Final payments along with mark up @6MK+1.75% of Sukuk III issued by Engro Fertilizers Limited issued in Jul-14 for PKR 3,200mln has been completed. The instrument was repaid in 10 semi annual installments starting Jan-15. Final installment of PKR 595mln (Jul-19) has been paid and the instrument has been fully redeemed.
Subsequent to the completion of the redemption process, the Pakistan Credit Rating Agency (PACRA) has withdrawn the rating of Engro Fertilizers Limited | Sukuk-III | July-14.
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