KARACHI, July 10: Karachi Electric Supply Company declared, that the first ever utility sector bonds issued by it, the Rs. 2 billion AZM Term Finance Certificates have been fully subscribed. The history making venture received an overwhelming response from investors, such that the entire subscription has been completed within the first six weeks of the three month period, which is reflective of the confidence reposed in KESC's certificates.
The capital raised through this bond float will be utilized for financing KESC’s working capital requirements. KESC said that the combined efforts of the KESC AZM TFC team and the AZM TFC partner banks made this achievement possible. KESC has also thanked all its employees in general, since it is their commitment, dedication and hard work that has placed KESC on the path of progress and transformation. It is all these factors combined, that have resulted in the more than encouraging response from KESC AZM TFC investors, which is an assurance of their faith in the future of the Company.