Mughal Steel Completes Full Repayment Of Rs. 1.5 Billion Sukuk

Mughal Iron and Steel Industries Limited has fulfilled its payment obligations for the Rs. 1.5 billion Sukuk VII Islamic certificates, according to a disclosure made to the Pakistan Stock Exchange on August 18. The company repaid the entire outstanding principal amount through three equal installments of Rs. 500 million each. Additionally, Mughal Steel made three quarterly profit payments in line with the terms set forth for the Sukuk.

This successful repayment signifies the completion of the company's commitments under the Rs. 1.5 billion Sukuk VII facility, which was structured as a short-term Islamic certificate and underwent both listing and private placement.