CRISPY

Corporate Finance

MTC has been involved in structuring international and local debt and equity financing transactions including a US$100 Million TFC issue (Bond) arranged by Merill Lynch for a Pakistani Issuer, the International Finance Corporation Financing to the Modaraba Industry in Pakistan under Income Notes and other financing transactions with multinational joint venture projects.

MTC has probably handled the most number of Term Finance Certificate Issues as well as Preference Shares issues in Pakistan. Our firm has acted as legal counsel either for the issuer or the trustee for numerous issues of corporate debt instruments (redeemable capital) in the nature of Term Finance Certificates, both listed and privately placed. Some of the Term Finance Certificates issues that our firm has been involved include those by the following companies:

  • United Bank Limited;
  • AskariBank Limited;
  • Bank Al-Habib Limited;
  • NIB Bank Limited;
  • SilkBank Limited (formerly Saudi Pak Commercial Bank Limited);
  • Royal Bank of Scotland Limited;
  • Union Leasing Limited;
  • Saudi Pak Industrial and Agricultural Corporation (Pvt) Limited;
  • Saudi Pak Leasing Company Limited;
  • Dewan Salman Fibres Limited;
  • Azgard Nine Limited;
  • Nishat Textile Mills Limited;
  • Pak Arab Fertilizer Limited;
  • National Development Leasing Corporation Ltd;
  • Pakistan Industrial Leasing Corporation Limited;
  • ICI Pakistan Limited;
  • Paramount Leasing Limited;
  • Sigma Leasing Corporation Limited;
  • Pak American Fertilizers Limited.
  • Packages Limited;
  • First International Investment Bank Limited;
  • Sui Southern Gas Co. Limited;
  • Shakarganj Sugar Mills Limited;
  • Network Leasing Limited;
  • Askari Leasing Limited;
  • ORIX Leasing Pakistan Limited;
  • Crescent Leasing Corporation Limited;
  • Security Leasing Limited;
  • Sitara Chemical Industries Limited;
  • TeleCard Limited;
  • Engro Chemicals Limited;
  • National Transmission and Despatch Company Limited;
  • Pakistan Electric Power Company Limited;
  • Worldcall Telecom Limited;
  • KASB Securities Limited;
  • Jahangir SIddiqui & Company Limited;
  • Pakistan International Airline Corporation; and
  • Pakistan Mobile Communications Limited.

We have also worked with the Asian Development Bank on its projects in Pakistan for development of Capital Markets, in particular the restructuring and privatization of Investment Corporation of Pakistan and National Investment (Unit) Trust. Furthermore, we have handled the Asian Development Bank project for restructuring and reforms in pension and provident funds in Pakistan. In addition to the above, we have also been engaged in contracts sponsored by the Asian Development Bank and the World Bank in conjunction with the State Bank of Pakistan relating to Credit Bureaus and SME training sector.

Our firm has been also involved in the issuance of Global Depository Receipts of Lucky Cement Limited and MCB Bank Limited which were successfully listed on the London Stock Exchange.