TPL Corp Limited Redeems PPTFC | Dec -17 | PACRA Withdraws Instrument Rating
|Issuer||TPL Corp Limited|
|Amount||PKR 1200 mln|
|Rating Type||Debt Instrument|
TPL Corp Limited issued a privately placed Term Finance Certificates (TFCs) of PKR 1.2bln in Dec-17. The instrument carried a markup rate of 3 months KIBOR plus 1.5 percent per annum and are redeemable in 03 equal installments at the end of 12th, 18th and 24th month.
Subsequent to the completion of redemption process, the Pakistan Credit Rating Agency (PACRA) has withdrawn the rating of TPL Corp Limited | PPTTFC | Dec-17.
TPL Corp Limited (formerly known as TPL Trakker Limited) is a public limited company listed on Pakistan Stock Exchange. The Company is principally engaged in making investments in Group and other companies. TPL Trakker Limited was incorporated in Pakistan on December 04, 2008 as a private limited company and converted into public company in 2009 and got listed on Pakistan Stock Exchange Limited on July 16, 2012. The name of the Company has been changed to TPL Corp Limited w.e.f. November 24, 2017.
TPL Corp is majorly owned by its parent company, TPL Holdings (Pvt.) Limited (62.41%). 6% shares are held by foreign companies and financial institutions. Remaining shares are owned by the general public.