AsiaNet-Pakistan 2013-07-11 16:01:00

Karachi, July 11, 2013 (PPI-OT): This is with reference to Chapter III, Clause 9 sub clauses (iii) and (viii) of Debt Security Trustee Regulations, 2012 regarding compliance of the provisions and covenants by the Issuer under the Trust Deed dated November 5, 2007.

In this regard, we hereby enclosing copy of PMCL’s letter dated July 04, 2013 received on July 10, 2013 entailing the compliance of Representations and Warranties, Covenants, and the confirmation from PMCL that no Event of Default has occurred or continuing under the Trust Deed in the tabular form for your records. Please note that the copy of the above referred letter is also being sent to Securities and Exchange Commission of Pakistan (SECP).

Please feel free to let us know in case you have any queries.

Subject: Monitoring of the Covenants of the Trust Deeds Executed between the TFC’s Issuers and the Trustees

This is with reference to Debt Security Trustee (“DST”) Regulations dated March 30, 2012 addressed to you in capacity of the trustee for our Term Finance Certificates Issue of PKR 5,667 Million, Please find below the detail of provisions/ covenants and their compliance status in a tabular form as required:

Clause No.          Compliance status
2.8                 Events of Default
2.8.1 to 2.8.9      We confirm that, as of the date hereof, no Default has occurred or is continuing
2.10                Representations, Warranties and Covenants of the Issuer
2.10.1(a)           Complied
(b)                 Complied
(c)                 Complied
(d)                 No such resolution or breach made
(e)                 Complied
(f)                 Complied
(g)                 No such event occurred or proceedings pending
(h)                 Noted for compliance if applicable
2.10.2(a)           Complied
(a)                 Complied
(b)                 Complied
(c)                 Complied
(d)                 Complied
(e)                 Complied
(f)                 Complied
(g)                 Complied
(h)                 Complied
(i)(i)              Complied
(i)(ii)             Complied
(i)(iii)            Complied

For more information, contact:
Syed Umair Alam Zaidi
Assistant Vice President
Investment Banking Group
MCB Bank Limited
MCB Building, 15-Main Gulberg,
Lahore Pakistan,
UAN: +92-42-111-000-111,
Ph: +92-42-36041621,
Fax: +92-42-35776616,
E-mail: asami@mcb.com.pk
Web: www.mcb.com.pk

Leave a Reply