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Mobilink gets Rs 2.5bn list debt. |
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Published in Business Recorder: Saturday 6 September 2003
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Karachi: Pakistan Mobile communication (Pvt) Ltd (Mobilink)-
one of the foreign cellular operations in the country.-struck
a deal on Tuesday for securing Rs.2.5 billion listed debt from
a consortium of 39 financial institutions.
The consortium led by United Bank Limited (UBL), ABN AMRO
Bank and Jahangir Siddique & company Ltd. (JSCL) arranged
the Rs.2.5 billion privately placed Term Finance Certificate
(TFC) issue for the Mobilink.
The loan signing ceremony was held on Tuesday at a local
hotel.Amar Zafar Khan, President , UBL, Zouhair Khaliq, President
and CEO,Mobilink, Naved A Khan, Country Representative of
ABN AMRO and Ali Siddique Director, JSCL, signed the loan
documentation.
President of UBL Amar Zafar expressed the hope that with
increased capacity building the Mobilink would be able to
remain number one Mobile Telephone Company of the country.He
disclosed that another record amount of Rs.500 million had
also been offered to Mobilink as option loan.
The TFC has been structured as a 5 years instrument with
payments to be made to investors through a cash collection
mechanism spanning 32 locations all across Pakistan, route
through UBL, the collecting bank for the issue. |
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UBL's NEW CORPORATE IDENTITY LAUNCHED-August
27, 2003 |
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Progressive Banking was a vision that came true in 1959 with
the birth of UBL. It brought in an era of modern banking and
customer care beyond the ordinary.
Today UBL is opening its eyes to a dynamic new vision that
will take banking to new heights and make UBL a world class
bank.
We are reshaping the bank and investing in state of the art
technology to give you innovative products and services.
Together with you, we will realize our vision. |
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