National Power Parks Management Company Limited (NPPMCL), a state-run entity, has developed two RLNG plants located at Haveli Bahadur Shah (1230 MW) and Balloki (1230 MW), respectively. The privatization of both plants is currently in the pipeline. To fast-track the privatization process, the Government of Pakistan approved the “debt recapitalization and refinancing of NPPMCL” to raise long-term debt of up to Rs 110 billion.
On directions of the Privatisation Commission, NPPMCL invited proposals from local banks through a Request for Proposal. The financing facilities to be provided pursuant will be amongst the largest extended by Pakistani banks.
RIAA Barker Gillette has been engaged by a syndicate of banks bidding for the project and is currently negotiating with NPPMCL. Our role will involve an in-depth legal due diligence exercise and preparing and negotiating the entire suite of financing documents.
Partner Adil Tirmizey leads our team on the debt recapitalization and refinancing project and is assisted by Rida A. Bhatti.
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