{"id":415605,"date":"2024-07-01T09:23:33","date_gmt":"2024-07-01T04:23:33","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=415605"},"modified":"2024-07-01T09:23:33","modified_gmt":"2024-07-01T04:23:33","slug":"ptcl-advances-telenor-pak-acquisition-by-signing-financing-agreements-with-ifc-led-consortium","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/ptcl-advances-telenor-pak-acquisition-by-signing-financing-agreements-with-ifc-led-consortium\/","title":{"rendered":"PTCL advances Telenor Pak acquisition by signing financing agreements with IFC-led consortium"},"content":{"rendered":"<p> Islamabad<br \/>\nPakistan Telecommunications Company Limited (PTCL) has signed formal loan agreements with an International Finance Corporation (IFC)-led consortium to secure up to $400 million in financing for the acquisition of Telenor Pakistan and Orion Towers (Pvt.) Limited.<br \/>\nThis is a significant milestone in the acquisition process following the IFC Board of Directors\u2019 approval of the financing deal in April 2024.<br \/>\nPTCL entered into a Share Purchase Agreement (SPA) last December with Telenor B.V. to acquire 100% of the shares of Telenor Pakistan at a price of PKR 108 billion on a cash-free, debt-free basis.<br \/>\nThe IFC-led consortium, which includes the Silk Road Fund (SRF) and British International Investment plc (BII), has now formally agreed upon a $400 million facility with a seven-year tenor. The facility will be repaid in quarterly installments and includes a one-year capital grace period. The financing of this project is in line with the IFC-led consortium\u2019s commitment to enhancing digital connectivity and narrowing the digital infrastructure gap in Pakistan.<br \/>\nCommenting on the development, President and Group CEO, PTCL &#038; Ufone 4G, Hatem Bamatraf said, \u201cWe are thrilled to witness the materialization of this financing deal, which brings us closer to concluding this transformative milestone in Pakistan\u2019s telecom sector. We are eager to serve a larger customer base with renewed commitment as soon as the acquisition process concludes following the necessary regulatory approvals.\u201d<br \/>\nThe disbursement of financing is expected to take place following the completion of the conditions as specified in the financing agreements.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad Pakistan Telecommunications Company Limited (PTCL) has signed formal loan agreements with an International Finance Corporation (IFC)-led consortium to secure up to $400 million in financing for the acquisition of Telenor Pakistan and Orion Towers (Pvt.) Limited. This is a significant milestone in the acquisition process following the IFC Board of Directors\u2019 approval of the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-415605","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-national"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PTCL advances Telenor Pak acquisition by signing financing agreements with IFC-led consortium<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/ptcl-advances-telenor-pak-acquisition-by-signing-financing-agreements-with-ifc-led-consortium\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PTCL advances Telenor Pak acquisition by signing financing agreements with IFC-led consortium\" \/>\n<meta property=\"og:description\" content=\"Islamabad Pakistan Telecommunications Company Limited (PTCL) has signed formal loan agreements with an International Finance Corporation (IFC)-led consortium to secure up to $400 million in financing for the acquisition of Telenor Pakistan and Orion Towers (Pvt.) 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