KARACHI: Power Holding Limited (PHL) has approved the early redemption of Pakistan Energy Sukuk–I (PESC-I) and Sukuk–II (PESC-II), amounting to nearly Rs400 billion, subject to approvals from certificate holders and regulators.
In a notice to the Pakistan Stock Exchange (PSX) on Wednesday, PHL said its board, in an emergent meeting, authorised management to initiate the redemption process. The move would enable the settlement of Rs200 billion under PESC-I, issued in March 2019, and Rs199.97 billion under PESC-II, floated in May 2020.
The company stated the decision complies with Pakistan Energy Sukuk Rules, 2019, as amended through S.R.O. 1124(I)/2025 dated June 26, 2025. Once necessary consents are obtained, the redemption date will be finalised in consultation with Meezan Bank Limited, acting as trustee and investment agent. On that date, principal and accrued profit/rental will be paid in full to Sukuk holders.
