According to the specifics, the loan has a grace period of one year and is part of a seven-year financial arrangement.
The Silk Road Fund is part of the British investors’ consortium led by the IFC.
Loan repayment will take place in three years’ time, with installments due on June 27, 2024, in Karachi.
A Share Purchase Agreement (SPA) was signed by PTCL and Telenor Pakistan’s shareholders last year, entailing the purchase of all of TPL’s shares at a cost of Rs108 billion.
PTCL will raise external financing to finance the acquisition, and the deal will be completed without any cash or debt.
Using data from the last twelve months (LTM) of September 2023, Telenor Pakistan, a prominent mobile provider with 45 million subscribers, reported revenue of Rs112 billion and an EBITDA margin of 43%.
Among the principal properties of PTCL is Ufone, a mobile provider with more than 20 million users in Pakistan.
The transaction is a component of Telenor Group’s plan to develop market leadership in Asia and scale, as announced at the 2022 Capital Markets Day, the company said in a news release. As stated in July 2022, it completes the strategic assessment of the telecom activities in Pakistan.
