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. 500 million from Saudi Pak Industrial and Agricultural Investment Company Limited to strengthen its working capital position.
According to a disclosure submitted to the Pakistan Stock Exchange on September 16, the company has signed an offer letter with Saudi Pak for the financing facility.
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.
Wahdat Poultry said the financing will be used to meet its working capital requirements and provide additional financial flexibility to support its ongoing business operations and growth.
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.
Principal amounts will be repaid through bullet payments upon maturity of each tranche, while markup will be paid quarterly in arrears.
The post Wahdat Poultry Secures Rs. 500 Million Financing Deal with Saudi Pak Industrial & Agricultural Investment Company appeared first on ProPakistani.
