Ahmed & Qazi

A&Q helps banks’ syndicate finance Rs. 6B acquisition of Popular Sugar Mills

A&Q is representing a syndicate of major banks in the extension of PKR 6 billion structured Islamic facilities to Unicol Limited, the country’s leading ENA ethanol producer.

Unicol will use the facilities together with an equity injection to fund its acquisition of a large industrial sugar production unit from Popular Sugar Mills Limited.

The facilities comprise:

(1) a syndicated shariah compliant bridge facility of PKR 1.5 billion, and

(2) a syndicated shariah compliant main facility of PKR 4.5 billion.

Due to the urgency of the matter, A&Q successfully closed the bridge facility within just one month from our engagement.

A&Q team is led by Nazif Ahmed (Head — Corporate) and comprises Tasmeena Perveen (Associate), Rashid Ali (Associate) and other associates at the firm.