MTC Advises Financiers On PKR 22.6 Billion Debt Restructuring Of Amreli Steels Limited

Mohsin Tayebaly & Co. was engaged as transaction legal counsel with respect to debt restructuring of various conventional and Islamic finance facilities in the aggregate amount of up to PKR 22,586,907,182/- (Pak Rupees Twenty Two Billion Five Hundred Eighty Six Million Nine Hundred Seven Thousand One Hundred Eighty Two), availed by Amreli Steels Limited from various banks and financial institutions, including but not limited to Bank Alfalah Limited, Habib Bank Limited, Meezan Bank Limited, Faysal Bank Limited and Askari Bank Limited, for which purpose Bank Alfalah Limited acted as the lead bank, Pak Brunei Investment Company Limited was appointed as the Agent and Security Agent and Dada Partners acted as the financial advisor.

This transaction marks a significant step in the debt reprofiling of Amreli Steels Limited and represents a meaningful milestone in the journey of one of Pakistan’s leading steel companies towards renewed stability and sustainable growth.

The restructuring comprised several unique features including but not limited to common security pooling and conversion of Islamic short-term facilities to long-term facilities in the mode of Ijarah-tul-musha.

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 Kamil Tayebaly (Senior Associate), Arsalan Abid Bachani (Associate) and Zain Ansari (Associate).