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PIA gets $100 mln Sharia-compliant financing facility

Posted on 05 January 2012

The Pakistan International Airlines Corporation (PIA) has closed a deal of $ 100 million Shari’a-compliant financing facility. The facility was arranged by Abu Dhabi Islamic Bank, Al Hilal Bank, Citibank NA, and United Bank Limited as Mandated Lead Arrangers and Joint Bookrunners.
Warba Bank in Kuwait joined as Lead Arranger. Citibank NA is also performing the role of the Account Bank and Security Trustee. Clifford Chance and Haidermota & Co acted as legal counsel to the arrangers. PIA was represented by Mandviwalla & Zafar………………………………………..Full Article: Source

 
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