Dawood Hercules Fertilisers secures Rs4.8 billion financing

KARACHI: DH Fertilisers Limited, a wholly-owned subsidiary of the Dawood Hercules Corporation, has secured Rs4.8 billion syndicated Islamic finance facility.

The facility was mandated to Meezan Bank as a financial adviser and lead arranger.

United Bank and Allied Bank jointly were leading the consortium while AlBaraka Bank, BankIslami and Burj Bank were co-lead arrangers.

DH Fertilisers and the banks signed the agreements at Dawood Centre on Monday.

The DH Fertilisers Limited was the first company in Pakistan to completely convert its long-term bank borrowings to Islamic financing in 2007. The company at that time had issued the largest ever private sector Sukuk of Rs6.5 billion in Pakistan.

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