ECC approves swapping of SSGC secured loan worth Rs21bn

MG News | March 21, 2022 at 11:27 AM GMT+05:00

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March 21, 2022 (MLN): Sui Southern Gas Limited (SSGC) has informed through a notice to exchange that the Economic Coordination Committee of the Cabinet (ECC) has approved the summary regarding swapping of SSGC secured loan from HBL — led consortium with Faysal Bank Limited amounting to Rs21 billion and re-issuance of sovereign guarantee in favour of later.

The new loan will be at 6-month KIBOR + 10 bps compared to the earlier arrangement of 6-month KIBOR +110 bps.

This swapping arrangement will save Rs730 million (approx) in finance cost to the company over the period of four and a half years, the company said.

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