Sukuk issued by Maple Leaf Cement Factory Fully Redeemed: Rating Withdrawn

Lahore, May 31, 2016 (PPI-OT):Maple Leaf Cement issued a secured, privately placed sukuk of PKR 8,000mln in Jan 08. The instrument, issued for a period of 8 years, was restructured in Mar 10 with revised maturity in Dec 18. The company by exercising early payment option, has made full and final redemption of sukuk in Mar 16. Subsequent to complete repayment (Outstanding amount: PKR 2.7bln at end-Dec15), the Pakistan Credit Rating Agency Limited has withdrawn the rating [Single A] of the said instrument.

For more information, contact:
Hammad Rashid
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425