Dawood Lawrencepur shareholders approve $10m SBLC for Tenaga Generasi

MG News | September 12, 2023 at 09:27 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

September 12, 2023 (MLN): The shareholders of Dawood Lawrencepur Limited (DLL) on Monday granted the approval to obtain a continuing Standby Letter of Credit (SBLC) of up to $10 million in favour of lenders of Tenaga Generasi limited, the company's filing on Tuesday noted.

The SBLC will be acquired from any reputable bank and will be in favour of the lenders of Tenaga Generasi Limited, a subsidiary company of DLL.

This is in terms of the Sponsors Support Agreement signed on March 11, 2015, between DLL as the Sponsor, Dawood Corporation (Pvt) Limited as the Parent, Tenaga Generasi Limited as the Company, Citibank International Limited as the Intercreditor Agent, Citibank N.A., Karachi Branch as the Onshore Security Trustee and Citibank N.A., London Branch as the Offshore Security Trustee.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	177,166.52 410.56M	0.33% 574.76
ALLSHR	107,641.65 676.88M	0.48% 519.21
KSE30	52,670.80 88.28M	0.39% 203.40
KMI30	251,460.53 103.06M	0.76% 1891.30
KMIALLSHR	69,413.38 509.62M	0.79% 544.65
BKTi	49,984.79 26.85M	-0.30% -151.57
OGTi	36,423.05 16.04M	1.47% 527.97

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	78,600.00	78,915.00 77,735.00	1420.00 1.84%
BRENT CRUDE	93.60	94.83 92.74	-0.18 -0.19%
RICHARDS BAY COAL MONTHLY	110.30	110.50 110.30	0.05 0.05%
ROTTERDAM COAL MONTHLY	125.25	125.25 125.25	1.50 1.21%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	86.64	87.51 85.80	-0.19 -0.22%
SUGAR #11 WORLD	17.60	17.89 17.16	0.08 0.46%