UBL Extends Rs. 8 Billion Standby Letter of Credit Facility to Lucky Cement

United Bank Limited (PSX: UBL) has successfully extended a Rs. 8 billion Standby Letter of Credit Facility to Lucky Cement Limited (PSX: LUCK). “United Bank Limited (UBL) proudly announces the successful conclusion of a Standby Letter of Credit Facility (equivalent to PKR 8 Billion) to Lucky Cement Limited, marking a major milestone in the collaborative relationship between one of the largest business houses and a leading bank,” the bank wrote on LinkedIn. Prior to this, UBL said earlier this month that it had completed a Rs. 20 billion financing for Engro Fertilizers Limited (PSX: EFERT). UBL is a subsidiary of Bestway (Holdings) Limited which is a wholly owned subsidiary of Bestway Group Limited. At the time of filing, UBL’s scrip at the bourse was Rs. 257, down 0.22 percent or Rs. 0.58 with a turnover of 232,569 shares on Wednesday.