Dost Steels restructures Rs2.08 billion loan with bank consortium

Dost Steels Limited has finalised a loan restructuring agreement with a consortium of banks to reschedule its outstanding debt totaling PKR 2.08 billion, including all future markup. 

The company communicated this development to the Pakistan Stock Exchange on Tuesday in compliance with securities regulations.

“The company has signed a restructuring agreement with a consortium of banks, whereby the outstanding loan has been rescheduled. An amount of PKR 2.08 billion, inclusive of all future markup, will be paid over a period of four years in quarterly installments, with a down payment of PKR 50 million from the overall settled amount,” read the company notice.  

The revised repayment plan spreads the amount over four years, to be paid in quarterly installments, beginning with a down payment of PKR 50 million.

The company’s new investors have provided guarantees to ensure the repayment schedule is strictly followed. The restructuring is aimed at strengthening Dost Steel’s financial position and supporting continued business operations amid economic challenges.