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ABL, UBL arrange finance facility for Bosicor

Staff Report

KARACHI: Allied Bank Limited and United Bank Limited has arranged a Term Finance Facility (TFF) for the fifth largest refinery in Pakistan, Bosicor Pakistan Limited, while the fund generated by the facility is likely to be used for expansion projects.

United Bank Limited and Allied Bank Limited, as Lead Advisors and Arrangers have successfully arranged a Syndicated Term Finance Facility of Rs 2.6 million to finance the numerous expansion projects being undertaken by Bosicor Pakistan Limited.

The finance was co-arranged by Bank Alfalah Limited and Faysal Bank Limited with the remaining syndicate consisting of Saudi Pak Commercial Bank, KASB Bank Limited, Pak Oman Investment Company Limited, Soneri Bank Limited, Pak Libya Holding Company Limited and Habib Metropolitan Bank Limited.

Bosicor Pakistan Limited was established in January 1995 and owns the crude oil refinery at Mouza Kund Plant (MKP1). The facilities are situated in Mouza Kund, Gadani near Hub.

Bosicor’s line of business includes chemicals, including petroleum, petrochemicals and energy. Liquid Petroleum Gas (LPG) including ethane, propane and butane splitter Light Naphtha, Heavy Naphtha, High Octane Blending Component [HOBC], Motor Spirits, Kerosene, Aviation Fuels 1 and 4, High Speed Diesel and Furnace Oil.

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