Aisha Steel Mills Limited’s dissemination of material information
Karachi, January 22, 2013 (PPI-OT): We are pleased to disseminate the following information;
i) Aisha Steel Mills Limited (ASL) has achieved successful financial close of its Six Months Privately Placed Rated and Secured Sukuk Issue amounting to PKR 500 million. The Sukuk is priced at 6 months KIBOR + 2.15% p.a. Given the attractive pricing and short tenor of the instrument, an overwhelming response was received from both the financial institutions and the non-bank market. This Sukuk will mature on July 11, 2013.
The subject Sukuk has been raised in line with our ongoing working capital raising exercise. Further to the above, we are pleased to communicate that ASML has been assigned A- (Single A minus) long term and A2 (A Two) short term as the entity rating by the JCR-VIS Credit Rating Company Ltd. (JCR-VIS).
Moreover, the afore-said Sukuk has been rated A (Single A) by JCR-VIS.
ii) The board of directors of the Company has appointed Mr. Nasim Beg as director of the Company consequent to the resignation of Mr. Mikio Kinoshita.
For more information, contact:
Aisha Steel Mills Limited
DSU-4S, Pakistan Steel,
Down Stream Industrial Estate,
Bin Qasim, Karachi, Pakistan
Tel: (+92-21) 3474 0160
Fax: (+92-21) 3474 0151