A syndicate of lenders have engaged A&Q in the extension of syndicated Islamic and conventional finance facilities of PKR 4 billion to a leading electric cable manufacturer. The borrower will utilize the facilities to meet the cost overruns in the project expansion on account of changes in macroeconomic conditions. Apart from drafting...
On 11 September 2023, a leading commercial bank engaged A&Q for the extension of a PKR 5 billion finance facility to the national airline to bridge its urgent operational funding requirements. The facility is secured by a letter of comfort of the Government of Pakistan which will be converted into a...
Representing two separate banks, A&Q has closed Rs 5B debt restructurings of Pakistan Services, the owner company of Pearl Continental Hotels. The restructurings involved the sale of certain non-core assets, with a sponsor support arrangement also being put in place. A&Q team was led by Nazif Ahmed (Head — Corporate).
For the first time in Pakistan, SECP has declared two REITs as shariah compliant. The REITs are ‘Rahat Residency’ and ‘Signature Residency’, in each of which A&Q acted as legal counsel.
Within just three months, A&Q’s six member team has completed legal due diligence of a leading bank's corporate loan portfolio of almost 1,000 corporate customers. The scope of the due diligence exercise included ensuring compliance with offer letters, confirming validity and enforceability of all facility documents, certifying that all charges have...
As part of a consortium comprising Faysal Bank and Arif Habib Dolmen, A&Q has been engaged by PTCL to act as the legal counsel in its plan to monetize of over 600 acres of land located across various cities in Pakistan. A&Q scope of work includes a comprehensive due diligence exercise...
A&Q has acted as legal counsel to a syndicate of subscribers for the restructuring and rescheduling of a PKR 725 million sukuk issued by Shakarganj Food Products Ltd. for the purpose of expansion of its dairy and juice facilities. The syndicate was led by Pak Oman Investment Company Ltd while other subscribers comprise...
A&Q acted as Pakistan legal counsel to the Ministry of Finance, Government of Pakistan in the establishment of Pakistan's first ever sukuk programme and an initial issuance of US$1 billion unsecured sukuk certificates on the London Stock Exchange. The Asset has awarded this deal the “Best Sukuk of the Year” in...
This week, A&Q has been engaged by a syndicate of Islamic banks and Islamic windows of conventional banks for the extension of shariah compliant facilities of PKR 750 million to a major construction and engineering company with domestic and international operations.The company will use the facilities primarily to settle existing...
A&Q has been engaged to represent a syndicate of lenders led by a major Islamic bank in the extension of PKR 2.5 billion syndicated facilities to a leading international pharmaceutical group. The facilities are complexly structured and involve multiple borrower companies. The A&Q team is led by Nazif Ahmed (Head - Corporate) and...