Banking and Finance

Our lawyers have extensive expertise, both in Pakistan and internationally, of advising leading financial institutions and corporate borrowers on some of their most complicated and big ticket banking and finance transactions. Invariably, we are required to provide cutting edge solutions to new and complex problems faced by our clients and are recognised for our practical and commercial approach.

Our banking and finance expertise, both cross border and domestic, includes:

• Acquisition finance, including senior, mezzanine and subordinated debt
• Asset finance, including ship finance and other capital asset finance
• Export credit agency finance – strategies for both ECAs and their borrowers
• Derivatives, including currency and interest rate swaps, options and forward contracts
• Collective investment schemes, including open and closed end funds, unit trusts and modarabas
• Islamic finance, including ijara lease agreements, murabaha finance contracts and musharakah agreements
• Project finance for various industries in Pakistan and cross border advice in South Asia
• Real estate finance where we act for property developers and financial institutions
• Sovereign borrowing and guarantees
• Structured and trade finance

Recent Deal Highlights

• Advised China Development Bank on a USD one billion loan to the Government of Pakistan.

• Advised Thal Limited on its investment in a 330 MW mine mouth coal powered IPP in the Thar district of Sindh.

• Advised China Development Bank on the 3 billion dollar project financing transaction for China State Grid’s major first of its kind electricity transmission grid project in Pakistan. This is the largest bilateral loan facility by an international bank to a non-sovereign Pakistani borrower ever and also involved Sinosure guarantee.

• Advised EXIM Bank of China in connection with multi hundred million dollar loans to the Pakistan Atomic Energy Commission for the construction of a strategic nuclear power plant in Pakistan.

• Advised a major Chinese Corporation on the Pakistani law aspects of project financing in connection with its proposed EPC contract with a power station project company in Bangladesh.

• Advised Arif Habib Group in relation to the circa USD 100 million Sacchal Wind Energy project and related financing arrangements involving Sinosure guarantee.

• Advised a Chinese company on the acquisition of a majority stake in a 50MW Wind Power project in the Sindh province of Pakistan.

• Advised China Development Bank on a USD 700 million loan to the Government of Pakistan.

• Advising Credit Suisse, as Pakistani counsel, as lender to the Ministry of Finance of Pakistan on the latest in a series of Credit Suisse-MoF financings.

• Advising Indigo Textiles (Private) Limited on its multi billion rupee syndicated project financing agreement with leading financial institutions of Pakistan.

• Advised CPHGC on a PKR 20 billion commercial paper issuance which will be in addition to its other short term financing needs.

• Advised CPHGC on the renewal of their multi million dollar working capital facilities for another year with existing international banking syndicate.

• Advised Arif Habib Group in relation to their wholly-owned subsidiary Sacchal Energy Development (Pvt) Limited on a 50MW Wind Power Plant in Jhampir, Sindh, including domestic and international financing and security arrangements in excess of USD 100 million with Sinosure guarantee.

• Advised China Development Bank on its USD 1 billion dollar plus loan to a subsidiary of China State Grid for the purposes of establishment of Pakistan’s first private transmission line project of strategic importance to Pakistan’s power generation sector.

• Advised Asian Development Bank on the provision of a multi-million dollar finance facility to a leading microfinance bank in Pakistan.

• Advised the Pakistan subsidiary of Edotco Group (Malaysia) (as borrower) on a multi-hundred million dollar acquisition financing facility for the acquisition of a major telecom infrastructure company in Pakistan.

• Advised NIB Bank Limited (a subsidiary of Tamasek Singapore) on the syndicated Rs 800 million financing and related real estate security arrangements for Javedan Corporation Limited which is a listed company involved in the construction of one of the largest housing estates in Karachi.

• Advised NIB Bank Limited (a subsidiary of Tamasek Singapore) on a USD 57 million project finance group loan to NC Electric along with associated security arrangements.

• Advised NIB Bank Limited (a subsidiary of Tamasek Singapore) as lead arranger on a substantial multi-million syndicated loan (confidential loan amount) to Javedan Corporation for one of the largest housing development schemes in Karachi/Pakistan along with related security arrangements.

• Advised Aisha Steel Mills Limited as a borrower on USD 10 million vendor financing arrangements with Cargill and related security and guarantee arrangements.

• Advised Habib Bank Limited on a take-out facility for a multi-million dollar undisclosed amount for NC Electric in connection with the construction of a new captive power plant.

• Advised a major Pakistani bank on structuring a USD 10 million loan from Eco Trade and Development Bank (Turkey) to meet its capital adequacy requirements.

• Advised a Pakistani pharmaceutical company on the corporate and financing aspects of its multi million dollar acquisition of another pharmaceutical company in Vietnam in a structure involving acquisition finance.

• Advised a private equity firm on its cross border investment in a transport company in Pakistan with an enterprise value of USD 60 million including the financing aspects of the acquisition and the restructuring of both domestic and Korean debt and security instruments.

• Advised a leading conglomerate in Pakistan on a USD 20 million dollar REPO transaction with Credit Suisse (Singapore).