The Pakistan Credit Rating Agency Limited
13-Jul-26
Analyst
Sohail Ahmed Qureshi
sohail.ahmed@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Debt Instrument Rating | Sep-25
- Methodology | Rating Modifiers | Apr-26
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Apr-26
Related Research
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Loads Limited - PPSTS - PKR 750mln -Jul-25
| Issuer | Loads Limited |
| Instrument | PPSTS-1 |
| Amount | PKR 750 mln |
| Issuance Date | 24-Jul-25 |
| Tenor | 0.9 Years |
| Redemption Date | 23-Apr-26 |
| Outstanding Amount | - |
| Rating Type | Debt Instrument | |
|
Current (13-Jul-26 ) |
Previous (01-Dec-25 ) |
|
| Action | Redeem | Maintain |
| Long Term | - | A |
| Short Term | - | A1 |
| Outlook | Stable | |
| Rating Watch | - | - |
Loads had issued a Privately Placed Short Term Sukuk (PPSTS) on 23-Jul-25 with an issue size of PKR 750mln, including a green shoe option of PKR 250mln. The PPSTS was a secured instrument with a tenor of 9 months from the first day of subscription. The PPSTS carried a profit rate of 3-month KIBOR +2.5%. The PPSTS was redeemed at face value in three quarterly payments. Accordingly, both principal and mark-up were duly settled on April 23, 2026. The redemption process has been verified through an Auditor’s Certificate along with supporting bank statements, confirming that an aggregate amount equivalent to the full issue size, along with profit, was transferred to the designated account and subsequently paid to the investors.
In light of the successful redemption, the Pakistan Credit Rating Agency (PACRA) has withdrawn the rating of Loads Limited - PPSTS-PKR 750mln- Jul-25, which was redeemed on April 23, 2026.
About
the Entity
Loads Limited ('Loads' or 'the Company') was established in 1979 as a private limited company and was listed on Pakistan Stock Exchange in 2016. The Company is mainly engaged in the production of auto parts namely: exhaust systems, metal sheet components and radiators.