Karachi June 28 2024: PTCL has entered into seven (7) years with one year grace period financing agreements with International Finance Corporation (IFC) led consortium which includes Silk Road Fund (SRF) and British International Investment (BII) on 27th June, 2024 for the purposes of financing the acquisition of Telenor Pakistan and Orion Towers (Private) Limited.
The loan up to USD 400 Million is to be paid in quarterly instalments from second anniversary of the loan. The disbursement of financing thereunder shall occur following completion of conditions precedent specified in such financing agreements.
On April 8, 2024, the Board of Directors of International Finance Corporation (IFC) has approved the debt financing up to USD 400 million to PTCL for acquisition of TPL.
