IslamicFinance.de

The government of Pakistan is set to raise Rs150 billion with the reopening of its existing five-year Ijarah Sukuk issuance, maturing in July 2025. The steps of reopening of existing Sukuk is similar as that of issuance of a completely new Sukuk. The Sukuk was originally issued last month. Pre-auction target was set at Rs60 billion for fixed rental rate Sukuk for August-October. The target for the variable rental rate Sukuk has been fixed at Rs90 billion. For the subsequent period, the rental rate for the reopened Sukuk would be the same as that of the first issue. Similarly, the maturity of the reopened Sukuk would also be the same as the first issue.