Karachi March 21 2022: Economic Coordination Committee of the Cabinet (ECC) has approved the summary regarding swapping of SSGC secured loan from HBL – Led Consortium with Faysal Bank Limited – Led Consortium of PKR 21 billion and re-issuance of Sovereign Guarantee in favour of later.
The new loan will be at 6-month KIBOR + 10 bps compare to earlier arrangement of 6-month KIBOR +110 bps. This swapping arrangement will save PKR 730 million (approx.) in Finance Cost to the Company over the period of four and a half years.
