Askari Bank Limited (PSX: AKBL) has received approval from the State Bank of Pakistan to fully exercise the Call Option on its Rated, Subordinated, and Unsecured Tier II Term Finance Certificates (TFCs) totaling Rs6 billion.
According to a notice to the Pakistan Stock Exchange (PSX), these TFCs were issued under a Trust Deed dated December 24, 2019, executed between Askari Bank (as Issuer) and Pak Oman Investment Company Limited (as Trustee).
The Bank’s Board of Directors approved the decision to exercise the Call Option in its meeting held on April 29, 2025, pursuant to Clause 3.12 of the Trust Deed and Clause 27 of the Terms and Conditions outlined in Schedule 2 of the Deed.
Notices to the Trustee and TFC holders, along with all related statutory and procedural requirements, will be issued in due course in accordance with the provisions of the Trust Deed.
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