United Bank Limited (UBL), acting as the Mandated Lead Advisor and Arranger, has successfully arranged Pakistan’s largest short-term, rated, unsecured, privately placed Sukuk, raising PKR 25 billion for Engro Fertilizers Limited.
The landmark transaction marks a significant achievement for Pakistan’s Islamic capital markets and further strengthens UBL’s position as a leading provider of innovative Shariah-compliant financing solutions for the corporate sector.
The Sukuk issuance received an overwhelming response from investors and was reportedly oversubscribed by nearly two times, reflecting strong market confidence in both Engro Fertilizers and UBL’s capital market expertise.
This transaction follows UBL’s recent role in facilitating one of the country’s largest private-sector Islamic financing deals for the Engro Group’s Deodar acquisition, reinforcing the long-standing partnership between the two organizations.
A ceremony commemorating the successful completion of the Sukuk issuance was held at the Engro office and attended by senior representatives from both companies, including Engro Holdings Group CFO Farooq Barkat Ali, Engro Fertilizers CFO Muhammad Imran Khalil, UBL Group Executive – Corporate & Investment Banking Nadia Tabassum, and Head of Investment Banking Mishal Quadri.
The Sukuk was placed in the non-bank market and executed within an accelerated timeframe, demonstrating UBL’s ability to deliver efficient and innovative financing solutions tailored to the evolving needs of Pakistan’s leading corporates.
Industry experts view the successful issuance as another important step toward deepening Pakistan’s Islamic debt capital markets and expanding the use of Shariah-compliant financial instruments across the country.
