MTC Advises Financiers on PKR 1.75 Billion Financing Being Availed By Naya Tel (Private) Limited

Mohsin Tayebaly & Co. was engaged as transaction legal counsel with respect to the finance facilities in the aggregate amount of up to PKR 1,750,000,000/- (Pak Rupees One Billion Seven Hundred Fifty Million) being availed by Naya Tel (Private) Limited from a consortium of banks / financial institutions, for which purpose Pakistan Kuwait Investment Company (Private) Limited has been appointed as the facility agent on behalf of the conventional financiers, the Investment Agent on behalf of the Islamic financiers and the Security Agent on behalf of all financiers.

The facilities comprise of a mark-up based syndicated facility in the aggregate amount of up to PKR 1,150,000,000/- (Pak Rupees One Billion One Hundred Fifty Million) and financing under the Islamic mode of diminishing Musharaka in the aggregate amount of up to PKR 600,000,000/- (Pak Rupees Six Hundred Million) and are intended to be utilized for the purposes of funding: (i) network expansion in new cities; (ii) capital requirements for fiber-to-the-tower technology; and (iii) broadening of Naya Tel’s existing service spectrum.

MTC’s team in this matter was led by Vaseeq Khalid (Partner) and included Kamil Tayebaly (Associate), Yawar Burki (Associate) and Ariba Fatima (Associate).