Wahdat Poultry Secures Rs. 500 Million Financing Deal with Saudi Pak Industrial & Agricultural Investment Company
Wahdat Poultry Farm Limited has secured a short-term revolving financing facility of Rs.
Wahdat Poultry Farm Limited has secured a short-term revolving financing facility of Rs.
Article outline
- What happened
- What comes next
- The details
- The bottom line
Key points
- According to a disclosure submitted to the Pakistan Stock Exchange on September 16, the firm has signed an offer letter with Saudi Pak for the financing facility.
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- The facility allows each drawdown for a period of up to 120 days and carries a markup of 3-month KIBOR plus 1.5 percent per annum.
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Wahdat Poultry Farm Limited has secured a short-term revolving financing facility of Rs. 500 million from Saudi Pak Industrial and Agricultural Investment Firm Limited to strengthen its working capital position.
For context, the facility allows each drawdown for a period of up to 120 days and carries a markup of 3-month KIBOR plus 1.5 percent per annum. The facility has a three-year expiry period. Pakistan Army Signs Accord To Purchase Drones From US Firm.
Wahdat Poultry remarked the financing will be employed to meet its working capital requirements and provide extra financial flexibility to backing its ongoing business operations and expansion.
For context, the facility is secured through a first-ranking pari passu and joint pari passu charge by way of hypothecation over the company's present and future current assets, with a 25 percent margin.
While markup will be paid quarterly in arrears, principal amounts will be repaid through bullet payments upon maturity of each tranche. Stay Connected with ProPakistani.
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Taken together, the developments around wahdat Poultry Secures Rs. 500 Million Financing Deal with Saudi Pak Industrial point to a situation that is still moving, and the coming days should bring more clarity.
