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HABIBMETRO Bank has successfully subscribed to a secured, unlisted and redeemable Privately Placed Term Finance Certificate (PPTFC) of Rs. 1.5 billion issued by Pakistan Mortgage Refinance Company Limited (PMRCL) for a tenure of five years, with Mohsin Tayebaly & Co. serving as the transaction legal counsel.
The TFC will contribute to the Government of Pakistan and State Bank of Pakistan’s vision and efforts for promoting the housing and construction sector in Pakistan aimed at stimulating economic growth.
A signing ceremony was held at HABIBMETRO Head Office, Karachi. PMRCL CEO/MD Muddasir H. Khan, HABIBMETRO President & CEO, Mohsin Ali Nathani, Head of Treasury & FI’s Farrukh Zaheer, Group Executive – Corporate and Transaction Banking, Khurram Shahzad Khan, Head of Business, Muhammad Shahzad Khan, Head Investment Banking, Hafiz Faraz Ali, Head Financial Institutions, Sehba Mansoor and other senior team members also attended the ceremony.
Commenting on this new partnership, PMRCL, Head of Treasury & FI’s, Farrukh Zaheer said “We are pleased to partner with Habib Metropolitan Bank for a secured privately placed Term Finance Certificate. We are delighted as this facility will further contribute towards housing finance market and is aimed at improving accessibility and affordability for the end borrowers”.