June 30, 2020 (MLN): Nishat Power Limited (NPL) via notification to Exchange, has updated that the long term financing from consortium of banks which the company had secured for a period of 10 years, has been fully settled today by making repayment of last installment of principle of Rs 654.637 million.
The finance was repayable in 40 quarterly installments starting from Commercial Operations date i.e. June ,9,2020 and ending on July 01,2020.
The notification further stated that as the annual debt service components is part of agreed tariff for cash flow purposes, the repayment of the finance will reduce the payments to the extent of approximately Rs 2,500 million annually viz-a-viz availability of agreed capacity.
This will accordingly reduce the profitability of the company to the above extent going forward, the announcement added.
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