Pakistan Mortgage Refinance Company (PMRC) one of the premier and fastest growing DFI in Pakistan issued its largest syndicated TFC worth PKR 5.0 billion.
The proceeds of the TFC will be utilized to refinance the housing and construction portfolios of eligible financial institutions. These TFC’s remain as a catalyst to drive the vision and objectives of PMRC to promote the housing finance market of Pakistan. Investors to the TFC included National Bank of Pakistan (NBP), Allied Bank Limited (ABL) and The Bank of Khyber (Bok). Pak Oman Investment Company (POIC) was appointed as the investment agent while Mohsin Tayyab Ali & Co. (MTC) acted as the transaction legal counsel.
A signing ceremony in this regard was organized at PMRC Head Office. The ceremony was attended by Mr. Arif Usmani, President & Chief Executive Officer (NBP), Mr. Mudassir H. Khan, MD/CEO (PMRC), Mr. Muhammad Ali Gulfaraz, Managing Director/CEO (BoK) and Mr. Rehmat Ali Hasnie, Chairman (PMRC) and SEVP & Group Chief, Corporate & Investment Banking Group (NBP).
Other key executives who attended the meeting included Mr. Owais Shahid, Chief CIBG (ABL), Mr. Farrukh Zaheer, Head of Treasury &FI (PMRC), Mr. Naved Nasim, GH Corporate Banking (ABL), Mr. Mohammad Faisal, EVP Treasury & Investment Banking Group (BoK) and Mr. Hasan Jamal, SVP & Advisor Investment Banking