MTC Engaged for Largest Private Sector Financing in Pakistan
Mohsin Tayebaly & Co. had been engaged as transaction legal counsel with respect to the syndicated conventional and Islamic finance facilities in the aggregate amount of up to PKR 75,000,000,000/- (Pak Rupees Seventy Five Billion) being availed by Pakistan Mobile Communications Limited (operating under the brand name of “Jazz”) from a consortium of banks / financial institutions.
The facilities include:
- A syndicated conventional component, for which The Bank of Punjab has been appointed as the Agent for and on behalf of the conventional financiers; and
- A syndicated Islamic component, for which The Bank of Punjab has been appointed as the Investment Agent for and on behalf of the Islamic financiers.
This 10-year financing arrangement is the largest long-term financing provided to a private sector company in Pakistan in terms of value and is being provided to Jazz for general corporate purposes, including but not limited to capital expenditure and license related payments to sustain Jazz’s growth as a leading provider of 4G and digital services to millions of consumers and enterprises.
The Firm’s scope of work included full scope financier side advisory.
MTC’s team in this matter was led by Vaseeq Khalid (Partner) and included Laraib Saba Turk (Senior Associate) and Yawar Burki (Associate).
