PTCL secures seven-year loan deal for Telenor acquisition

MG News | June 28, 2024 at 09:49 AM GMT+05:00

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June 28, 2024 (MLN): Pakistan Telecommunication Company Ltd (PSX: PTC) has entered into seven years with one year grace period financing agreements with International Finance Corporation (IFC) led consortium for the purposes of financing the acquisition of Telenor Pakistan and Orion Towers (Private) Limited.

PTC shared the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.

The consortium includes Silk Road Fund (SRF) and British International Investment (BII).

The loan of up to $400 million is to be paid in quarterly installments from second anniversary of the loan.

"The disbursement of financing thereunder shall occur following completion of conditions precedent specified in such financing agreements," the notice reads.

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