Karachi: The VIS Credit Rating Company Limited (VIS) has finalized the rating of the Pakistan Telecommunication Company Limited's (PTCL) second Short Term Sukuk issuance, which had a total volume of PKR 10 billion, inclusive of a PKR 5 billion green shoe option. The maturity of this financial instrument was marked on July 18, 2024.

According to VIS Credit Rating Company Limited, the issuance of PTCL’s Short Term Sukuk 2 occurred on January 18, 2024, with its maturity following six months later. This recent financial maneuver was part of PTCL’s broader strategy to leverage flexible financing options. The previous rating action related to this sukuk was announced on May 27, 2024, underscoring the ongoing monitoring and assessment by VIS throughout the instrument's lifecycle.