Hascol Petroleum secures debt restructuring deal with NBP

May 21, 2026 (MLN): The Board of Directors of Hascol Petroleum Limited approved the restructuring and rescheduling of the company's financing facilities with the National Bank of Pakistan (NBP) in an emergent meeting held on 15 May 2026.

The development follows the company's earlier disclosure regarding the receipt of an offer letter from NBP in relation to the proposed restructuring and rescheduling of the company's financing facilities, the company's filing on PSX revealed today.

The negotiations with NBP in relation to the restructuring and rescheduling of the financing facilities have since been finalized and duly considered and approved by the Board.

The company is currently in the process of completing the necessary documentation and implementation formalities in respect of the approved restructuring and rescheduling arrangement.

Upon completion and implementation of the proposed settlement arrangement with NBP, approximately 92% of the company's total funded banking debt facilities would stand restructured, subject to completion of the remaining documentation and implementation formalities, with only a limited number of financing facilities remaining under negotiation or resolution.

This represents a major milestone achieved by the company in its ongoing financial restructuring efforts.

The Board and management remain committed to maintaining sound governance and financial discipline with a view to strengthening the company's financial position.

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