Security Leasing Corporation in negotiation with BOK, BOP and SNBL for loan settlement

MG News | April 07, 2022 at 10:20 AM GMT+05:00

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April 07, 2022 (MLN): Security Leasing Corporation Limited is in negotiation with the major creditors; namely Bank of Khyber, Bank of Punjab, and Soneri Bank for the loan settlement and revival of the company.

In its progress report issued to the bourse, the company said that in order to resume commercial operations, a transaction advisory firm and legal advisors were engaged to arrive at a settlement with creditors; and negotiations were immediately started with three major creditors Bank of Khyber, Bank of Punjab and Soneri Bank and are progressing steadily with corporate head and top management at each of the financial institutions.

The company is hopeful of arriving at an understanding on the loan settlement in the second quarter.

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