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Projects and Project Finance

  • Acting for the Sponsors and the Project Company in the Hub Power Project as part of an international team including drafting of documentation, negotiations of commercial and legal points at the highest level in the Government of Pakistan; advising on the project corporate structure and the security package, acquisition of the Site, debt and all related matters, local and foreign equity, including an IPO and Pakistan’s first GDR offering;
  • Acting as local counsel for the lenders in the Kohinoor Power Project, Gul Ahmed Power Project, and Southern (Raiwind) Power Project; for the Lenders and Equity Arrangers in the Liberty Power Project and for the Sponsors and the Project Company in the Tapal Power Project and the Tractebel Khaleej Power Project;
  • Acting for the Subordinated Lender in respect of the restructuring of the Southern Electric (Raiwind) Power Project, including advice on inter-creditor issues;
  • Acting as project counsel for the terminal operating company setting up a container terminal at Karachi Port in relation to its financing and IPO;
  • Acting for the United States Ex-Im Bank and other Lenders in connection with the restructuring of the debt financing of Saba Power Project;
  • Acting for the Asian Development Bank, Islamic Development Bank, International Finance Corporation PROPARCO and a consortium of local lenders led by Habib Bank Limited and National Bank of Pakistan on the 79MW New Bong Escape Hydroelectric Project in Azad Jammu and Kashmir including due diligence on the project documents; advice on conventional and Islamic financing, including Intercreditor and Security issues; lender review of the shareholder and sponsor agreements;
  • Acting for International Finance Corporation, DEG and FMO in relation to a technical advisory assignment in relation to a wind power generation project sponsored by Green Power (Tapal group) in Sindh province;
  • Acting for International Finance Corporation and other Senior Lenders, principally, European state Development Finance Institutions, in a financing of a 217MW gas-fired power project in Sindh province, which achieved Financial Closing on 30 April 2008; advising International Finance Corporation in connection with its equity investment in the Company;
  • Acting for Uch Power Limited and its sponsors, International Power GDF Suez, in relation to a 400 MW expansion of the Company’s low BTU gas-fired project in Balochistan, including drafting and negotiation of project and finance documents;
  • Acting for National Bank of Pakistan and Habib Bank Limited as the lead arrangers of a multi-facility financing of a 220 MW(gross) expansion project for the Hub Power Company Limited at Narowal in Punjab province;
  • Acting for National Bank of Pakistan as Intercreditor Agent and Security Trustee in a US$750,000,000 multi-currency, multi-facility financing for the fertiliser expansion project for Engro Chemical Pakistan Limited;
  • Acting for Askari Bank Limited as lead arranger in relation to a syndicated US$125.5 million Standby Letter of Credit Facility on behalf of Northern Power Generation Company Limited for a rental power project at Faisalabad;
  • Advising Agence Française de Developpment in connection with (i) a loan to the Government of Pakistan (GOP) for on-lending to the state power utility for a hydroelectric power project and (ii) completing a legal due diligence questionnaire in relation to the proposed lending operations in Pakistan (iii) a loan to the GOP for financing the Jabban hydropower project;
  • Acting for a consortium of Pakistani banks led by MCB Bank Limited in the project financing of Fauji Fertilisers Company Energy Limited (FFCEL)’s 50MW Wind Power Project, which closed in February 2011;
  • Acting for International Finance Corporation, Asian Development Bank, Islamic Development Bank and Korean Ex-Im Bank in connection with the financing of the Patrind Hydropower Project.
  • Acting for the Lenders (Asian Development Bank) in the Fauji Kabirwalla Power Project;
  • Advising the Sponsors and the Project Company in relation to an oil refinery, oil terminal and pipeline project at Port Qasim Karachi;
  • Acting for the Lenders in the Aviserv Flight Kitchen project;
  • Acting for the Export Credits Guarantee Department of the UK in connection with the financing of ICI Pakistan Limited’s Pure Terephthalic Acid Plant in Pakistan;
  • Project financing (loan and equity) for International Finance Corporation and ADB including the preparation and issue of legal opinions.