MTC Advises Banks On PTCL 4G Spectrum Matter

The Firm had been engaged as transaction legal counsel for financing being availed by Pakistan Telecommunication Company Limited for the purposes of: equity injection into its wholly owned subsidiary PTML to (i) partly utilize the proceeds for the instalment payments with respect to the 4G Spectrum and (ii) partly utilize the proceeds for capex payments of 2022 of PTML under syndicated term finance facility from MCB Bank Limited and a consortium of banks which was led by MCB Bank Limited, in the aggregate amount of the PKR 11,000,000,000/- (Pak Rupees Eleven Billion).

The Firm had also  been engaged as transaction legal counsel for financing being availed by Pakistan Telecommunication Company Limited for the purpose of financing their capex requirements and for equity injection in its wholly owned subsidiary, under a combination of conventional and Islamic mode (Shirkat-Ul-Milk) of financing from a syndicate of banks led by Habib Bank Limited, in the aggregate amount of the PKR 35,000,000,000/- (Pak Rupees Thirty Five Billion).

The Firm’s scope of work includes full scope lender side advisory. MTC’s team included Vaseeq Khalid, Partner, Sanaa Jaleel Ahmed, Senior Associate, Eman Siddiqui, Senior Associate and Ifrah Arshad, Associate.