RAKIA Sukuk (continued...) - Islamic Finance News
RAKIA Sukuk (continued...) - Islamic Finance News
RAKIA Sukuk (continued...) - Islamic Finance News
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TERMSHEET<br />
INSTRUMENT<br />
Engro Chemical Pakistan<br />
Istisna facility<br />
ISSUER<br />
Engro Chemical Pakistan<br />
PRINCIPAL ACTIVITIES<br />
BOARD OF DIRECTORS<br />
DATE OF LISTING<br />
Fertilizers producer in Pakistan<br />
Hussain Dawood — Chairman<br />
Asad Umar — CEO<br />
Shazada Dawood<br />
Arshad Nasarr<br />
Isar Ahmad<br />
Asif Qadir<br />
Khalid Siraj Subhani<br />
Khalid Mansoor<br />
Ruhail Mohammad<br />
Shabbir Hashmi<br />
NA<br />
ISSUE SIZE<br />
US$150 million <strong>Islamic</strong> facility arranged with participation from local as well as international banks<br />
DATE OF ISSUE Agreement signed on the 28 th September 2007<br />
MATURITY 27 th September 2014<br />
COUPON<br />
6-month LIBOR + 257 bps<br />
PAYMENT SCHEDULE Roughly equal amortization commencing in month 42<br />
AUTHORIZED PAID-UP<br />
CAPITAL<br />
PKR5.9 billion (US$94 million), inclusive of share premium of PKR3.9 billion (US$62 million)<br />
IDENTIFIED ASSETS<br />
1.3 tpa fertilizer plant to be constructed at Dharki (the project)<br />
ARRANGERS AND<br />
BOOKRUNNERS<br />
Citi<br />
Standard Chartered Bank<br />
Dubai <strong>Islamic</strong> Bank<br />
National Bank of Pakistan<br />
Habib Bank Limited<br />
Samba Financial Group<br />
LEGAL COUNSEL<br />
Lovells (arrangers)<br />
Haidermota & Co (obligor)<br />
GUARANTOR<br />
NA<br />
SHARIAH ADVISERS<br />
Sheikh Nizam Yaquby<br />
Dr Mohammed El Gari<br />
Dr Nazih Hammad<br />
Sheikh Hussain Hamed Hassan<br />
METHOD OF ISSUE<br />
NA<br />
PURPOSE OF ISSUE<br />
To fi nance the project<br />
RATINGS<br />
NA<br />
DIVIDEND PER UNIT<br />
NA<br />
www.<strong>Islamic</strong><strong>Finance</strong><strong>News</strong>.com<br />
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