KARACHI: K-Electric has sold Islamic bonds (sukuk) worth 22 billion rupee.
K-Electric said that the Proceeds would help refinance debt including around 18 billion rupees of long term loans from the International Finance Corporation and the Asian Development Bank.
The firm received 15 billion rupee worth of subscriptions for the sukuk through a pre-IPO offering, opening it to the general public last month. K-Electric said that the deal was oversubscribed on May 29.
