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HUBCO Issues SBLC of $150 Million to CPHGC

Hubco has issued a Standby Letter of Credit (SBLC) of $150 million to China Power Hub Generation Company Limited (CPHGC).

Hubco is a joint venture partner and sponsor of CPHGC. It provides security by issuing an SBLC of $150 million in favor of CPHGC expiring on November 23, 2022.

A notice has been published today by CPHGC under the SBLC on the issuing bank, stating the stock filing.

It added: “As the first and largest independent power producer in Pakistan, Hubco remains committed to providing the country with affordable and uninterrupted energy and taking any necessary actions to protect the best interests of its shareholders”.

While filing this report, the scrip of the company was being traded at Rs. 67.11, down by Rs. 2.02 or 2.92 percent, and a turnover of 7,317,234 shares on Wednesday.

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