Dawood Lawrencepur renews loan facility worth Rs1bn to Tenaga Generasi

MG News | July 13, 2022 at 03:46 PM GMT+05:00

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July 13, 2022 (MLN): The shareholders of Dawood Lawrencepur Limited (PSX: DLL) have resolved to renew the unsecured subordinated loan facility of up to Rs1 billion to its subsidiary, Tenaga Generasi Limited (TGL), for a further one-year period, the company filing on PSX showed today.

The shareholders further resolved the issuance of a Corporate Guarantee in favor of Allied Bank Limited, as security against Running Finance (RF) / Money Market Loan (MML) of Rs500 million to be obtained by TGL, subject to the approval of TGL's lenders.

The aforestated resolutions are in line with the terms and conditions disclosed to the shareholders in the statement of material facts.

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