At-Tahur Limited has approved the issuance of Islamic Sukuk certificates worth up to Rs. 0.9 billion to meet its working capital requirements.
The Sukuk will be privately placed with institutional investors and structured as a short term secured Islamic instrument, reflecting the company’s move to strengthen liquidity.
The issuance includes a green shoe option of Rs. 0.2 billion, allowing flexibility in raising additional funds if required.
According to the term sheet on page 1, the Sukuk will be priced at a rental rate of three month KIBOR plus 1.3 percent per annum. Profit payments will be made quarterly on the outstanding principal amount.
The proceeds from the issuance will be used to support working capital needs, enabling the company to manage operational requirements more efficiently. The Sukuk will be listed and issued in compliance with relevant regulations governing Islamic financial instruments.
Details show that the Sukuk will be secured through a ranking charge over current assets and biological assets, with a 25 percent margin.
The instrument carries strong credit ratings, including an A1 rating for the instrument and A plus for the entity, indicating relatively low credit risk.
The issuance is scheduled with phased repayments between April 2026 and March 2027, providing a structured repayment timeline aligned with the company’s cash flow cycle. The company has authorized its Chief Financial Officer to complete all necessary arrangements and documentation for the issuance.
At-Tahur Limited is a Lahore based dairy company engaged in the production and processing of milk and dairy products, operating under its flagship Premá brand. The company manages integrated dairy farming and processing operations, supplying pasteurized milk, yogurt, and related products across Pakistan