PKR 3.5 Billion Project Finance Facilities

Mohsin Tayebaly & Co. acted as transaction legal counsel in respect of the finance facilities in the aggregate amount of up to PKR 3.5 Billion being availed by Capital Iron Industries (Private) Limited for the establishment and installation of a new steel / iron mill with an annual production capacity of approximately 100,000 tons. The financing comprised of a conventional long term finance facility of up to PKR 1.75 billion from National Bank of Pakistan (NBP) and an Islamic finance facility under the Islamic mode of Diminishing Musharaka of up to PKR 1.75 billion from The Bank of Punjab (BOP).

For the purpose of this transaction, NBP acted as the Syndicate Agent, the Intercreditor Agent and the Security Agent, while BOP acted as the Investment Agent.

This project represents an important investment in Pakistan’s industrial sector, supporting the development of local steel and iron production capacity and we are honoured to have been part of this transaction.

Our scope of work included full-scope financiers-side advisory.

We are grateful to the financiers for placing their trust in us to deliver on this mandate and are pleased to continue advising on complex financing transactions across Pakistan.

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