Islamabad, February 26, 2014 (PPI-OT): Engro Rupiya Certificate (ERC), Pakistan’s premier retail Term Finance Certificate (TFC) launched in 2010 successfully concluded its first issue of transaction in January 2014. Engro Rupiya Certificate offered investors an attractive annual rate of return in the market of 14.5% for a period of three years, paid semi-annually, along with a redemption feature.
Engro is a pioneer in establishing the retail corporate debt market of Pakistan, with various other organizations introducing TFCs subsequently to capitalize on market opportunities. ERC was a success right from its launch, with the complete subscription amount of Rs. 4 billion being raised before the end of the subscription period.
The company provided a dedicated customer service helpline through an in-house call center, ensuring personalized attention to all subscribers. The final profit payment and initial investment redemption to all subscribers of the first Engro Rupiya issue took place on January 31, 2014.
Based on the subscriber feedback and in line with its track record of financial innovation, Engro Corporation is now planning to launch another financial instrument subject to regulatory approvals, this time a Shariah Compliant certificate (Sukuk) called Engro Islamic Rupiya.
Similar to the initial Engro Rupiya Certificate, the new issue will offer an attractive rate of profit in the market, whereby investors will get a chance to invest in an institution with an AA- rating from PACRA, denoting high creditworthiness.
For more information, contact:
Engro Corporation Limited
Tel: 92-21-3529 7501
Fax: 92-21-3529 5948
UAN: 111 211 211
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