AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad, Pakistan Telecommunication Company Limited (PTCL) has successfully secured a $400 million financing agreement for its acquisition of Telenor Pakistan and Orion Towers. The deal, facilitated by a consortium led by the International Finance Corporation (IFC), was finalized on June 27, 2024, and includes partners such as Silk Road Fund and British International Investment.
Following an announcement earlier in April about the approval of debt financing by the IFC Board of Directors, PTCL has now confirmed the signing of the financing agreements. According to the terms, the loan will be repaid in quarterly installments starting from the second anniversary of the loan’s initiation, following a one-year grace period.
According to information available from the Pakistan Stock Exchange (PSX), the successful negotiation and signing of these agreements mark a significant advancement for PTCL’s strategic expansion. The disbursement of the funds will proceed once all predetermined conditions have been met.
The company, which had previously informed stakeholders of the impending deal in April, reassured that any further developments will be disclosed in compliance with the regulations set forth by the Securities Act of 2015 and PSX rules.
This financial move is aimed at supporting PTCL’s strategic acquisition initiatives, strengthening its market position in Pakistan’s competitive telecommunication landscape.