Since March, Ahmed & Qazi has been representing PIA Holding Company Limited as borrower’s counsel in its PKR 268 billion debt restructuring with over 20 banks and financial institutions. The debt includes: (A) PKR-denominated conventional facilities, Islamic facilities and sukuk issue(s), and (B) USD-denominated term facilities. A&Q team is...
Ahmed & Qazi has represented Mirpurkhas Sugar Mills Limited in its listed rights issuance of 20,000,000 ordinary shares at a premium price of PKR 25/- per share, aggregating to an issue size of PKR 500 million. A Ghulam Faruque Group company, Mirpurkhas operates one of the most efficient...
Ahmed & Qazi has represented UBL - United Bank Limited in the acquisition of a 14,092 square yards commercial plot in Naya Nazimabad for the purpose of constructing towers for its offices. The property was acquired from a developmental REIT (Real Estate Investment Trust) scheme. After months of...
Today, after a detailed hearing of around three hours, the Customs Court acquitted the five-member South African family that was arrested earlier this month for allegedly attempting to smuggle 9.6 kgs of gold from Pakistan. The acquittal applications for all accused were argued by Saim Hashmi (Advocate Supreme Court) with...
Ahmed & Qazi has been engaged by a leading REIT management company for the conversion of two real estate investment trusts from their present developmental structure to the hybrid structure. The REITs are shariah compliant and comprise real estate development projects expected to value over PKR 77 billion. A&Q team for...
With A&Q as legal counsel, a syndicate of banks have successfully disbursed a PKR 1 billion Islamic long-term facility to a leading pharmaceutical company with manufacturing facilities in Karachi, for the purpose of funding:(1) the expansion of the borrower's warehouse, and(2) the extension of its ampoule line.Being a shariah compliant...
Led by Nazif Ahmed (Head — Corporate) and Aroma Ali (Senior Associate), A&Q acted as the project financiers’ legal counsel for this solar project finance deal. K-Solar (Private) Limited, a subsidiary of K-Electric is pleased to announce the successful financial close of our renewable energy venture at Bulleh...
A&Q has been engaged by a leading bank for the restructuring of a PKR 2.4 billion facility availed by a steel company. The borrower will transfer three (3) properties located in Karachi and Islamabad to the bank to settle debt of PKR 2.2 billion while the remaining PKR 200 million...
Today, with A&Q as legal counsel, a leading bank successfully closed a PKR 3.4 billion project standby letter of credit facility to the majority sponsor of a leading coal production company.The purpose of the SBLC Facility was to secure the sponsor’s equity injection commitments towards the financiers of the coal...