The Hub Power Company Issues PKR 6 Billion Five-Year Sukuk to Finance Capital Expenditures

The Hub Power Company (Hubco), Pakistan’s largest independent power producer, has announced the issuance of PKR 6 billion worth of Sukuk to finance its capital expenditures, according to a company statement released on the 13th of November 2020.

The five-year Sukuk was issued by Hubco’s wholly-owned subsidiary, Hub Power Holdings Limited with Arif Habib Limited appointed as arranger and Meezan Bank Limited as Shariah advisor, according to local media reports.

The Sukuk, which was subscribed by financial institutions, investment companies and other eligible institutions, will be used to finance ongoing capital requirement of the company. According to the statement, Hubco...