One of the largest producers of jeans in Pakistan, Crescent Greenwood Ltd, has signed an agreement with the International Finance Corporation (IFC) for a restructuring package of $30m.
The package will inject new equity, replenish working capital, and provide a basis for the restructuring of existing debt. Guarantees are being provided to two banks - United Bank Ltd and ABN Amro - to convert existing foreign currency debt to rupees, and extend maturities on existing obligations
It is the first time that IFC has provided a syndicated guarantee facility.
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To view related research reports, please follow the links below:- Textile Processing & Finishing Chemicals to 2004 The 2000 World Forecasts of Woven Cotton Fabrics Export Supplies |
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