UBL Subscribes to Rs. 2.5 Billion Worth Term Finance Certificate Issued by PMRCL

United Bank Limited (UBL) has efficiently subscribed to a secured and unlisted Privately Placed Term Finance Certificate (PPTFC) of Rs. 2.five billion was issued through Pakistan Mortgage Refinance Company Limited (PMRCL) for a tenure of 3 years and blanketed Mohsin Tayebaly & Co. because the transaction's legal counsel.

The subscription will make a contribution to constructing the housing and creation of mortgage portfolios as a part of the strategy through the Government of Pakistan and the State Bank of Pakistan for the extension of mortgage loans and financing to builders and builders.


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The facility is aimed at improving the first-rate residing situations of the people of Pakistan thru the development of low-cost housing. Its linkage to dozens of allied industries gives a substantial potential for the boosting of economic activities withinside the country. The facility has been efficiently disbursed, and the proceeds will be used for mortgage refinance.

A signing rite turned into lately held on this regard on the UBL Head Office, Karachi. UBL turned into represented through Shazad G. Dada, President & CEO, Farooq A. Khan, Group Head – Corporate, Investment Banking & Financial Institutions, Muhammad Tayyab Khurshid, Unit Head Financial Institutions, and different senior UBL executives.


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From PMRCL, CEO Muddasir H. Khan, Head of Treasury & FIs Farrukh Zaheer, Head of Business Muhammad Shahzad Khan, and different senior group participants attended the rite.

Source ProPakistani

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