MTC Acts For Askari Bank, Dubai Islamic Bank And Bank Of Punjab In Islamic Financing Transaction
TNB Liberty Power Limited (the “Company”) required financing to repay the loans of its sponsor to allow for the acquisition of 100% shareholding of TNB Power Daharki by AsiaPak Investments against payment of PKR 8,000,000,000/- (Pak Rupees Eight Billion).
The Firm has been engaged as transaction legal counsel in respect of providing bilateral financing to the Company from: (i) Askari Bank Limited to the extent of PKR 4,000,000,000/- (Pak Rupees Four Billion); (ii) Dubai Islamic Bank Pakistan Limited involving financing under the Islamic mode of running Musharaka to the extent of PKR 3,000,000,000/- (Pak Rupees Four Billion); and (iii) The Bank of Punjab to the extent of PKR 3,200,000,000/- (Pak Rupees Three Billion Two Hundred Million).
The Firm’s scope of work includes full scope lender side advisory. MTC’s team included Vaseeq Khalid, Sara Ansari and Kamil Tayebaly.