Masood Textile Mills Limited (PSX: MSOT) has successfully completed the Sukuk issue of Rs. 2,000 million carrying a rental rate of 3-month KIBOR + 1.75% per annum over a tenor of 5 years (inclusive of a 9-month period).
The company said the purpose of this Sukuk was to repay existing conventional debt and meet its working capital requirement.
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The main objects of the Company are the manufacturing and sale of cotton/ synthetic fiber yarn, knitted/dyed fabrics, and garments.
