Pakistan Cables Limited has successfully raised Rs. 4 billion through a rated, unsecured, and privately placed short-term Sukuk to meet its working capital requirements.
According to a notice submitted to the Pakistan Stock Exchange, the Islamic financing instrument carries a six-month tenor and has been assigned an “A-1” short-term rating by VIS Credit Rating Company Limited.
The company stated that the proceeds from the Sukuk issuance will be utilized to support operational and working capital needs amid ongoing expansion and modernization initiatives.
Pakistan Cables has recently focused on enhancing production capacity and upgrading operations as demand for power and infrastructure-related products continues to rise across the country.
Established in 1953, Pakistan Cables is among the country’s oldest and largest cable manufacturers and has been listed on the Pakistan Stock Exchange since 1955. The company manufactures wires, cables, conductors, copper rods, aluminum profiles, PVC compounds, and wiring accessories, with operations covering more than 200 cities nationwide.
Part of the Amir S. Chinoy Group, the company also exports its products to multiple international markets.
