Press Release

JCR-VIS Finalizes Rating of proposed TFC-II of Faysal Bank Limited
 

Karachi, September 27, 2010: JCR-VIS Credit Rating Company Limited has finalized the rating of
‘AA-’ (Double A Minus) assigned to the proposed second issue of unsecured, subordinated, privately placed term finance certificates (TFCs) of Faysal Bank Limited, following the examination of signed legal documents.

The issue amounting to Rs. 3 billion will contribute towards the bank’s tier-II capital. The tenor of the issue is proposed to be 7 years, with more than 99% of principal redemption commencing in the sixth year. The TFC is priced at 6-months KIBOR plus 2.25%.

In view of the planned acquisition of The Royal Bank of Scotland Limited (Pakistan operations), the entity and TFC ratings of FBL continue to be placed under ‘Rating Watch-Developing’ status.

For further information on this rating announcement, please contact Ms. Sobia Maqbool (Ext: 506) or Mr. Javed Callea (Ext: 501) at (92-21) 35311861-70 or fax to (92-21) 35311873.



Faheem Ahmad
President & CEO

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Information herein was obtained from sources believed to be accurate and reliable; however, JCR-VIS Credit Rating Company Limited (JCR-VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. JCR-VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. JCR-VIS is not an NRSRO and its credit ratings are not NRSRO credit ratings. JCR-VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2010 JCR-VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to JCR-VIS.

JCR-VIS Credit Rating Company Limited