One of Pakistan's largest knit wear exporters, Sarah Textiles Ltd, is to undergo financial restructuring with the help of the International Finance Corporation (IFC).

An agreement has been signed by the IFC to support the company's financial sustainability through the restructuring of existing debt obligation and replenishment of working capital.

The IFC provided a guarantee to United Bank Ltd (UBL), to mobilise a local currency loan that would convert part of the foreign currency obligation of the company into rupee loans and extend the maturities of the company's debt obligations.

Other lenders to the Sarah Textiles include the CDC Capital Partners of UK, the Saudi-Pak Agricultural Investment Corporation Ltd, Union Bank Ltd and Gulf Commercial Bank.

To view related research reports, please follow the links below:-

Pakistan's Textile Vision - 2005

The 2000 World Forecasts of Apparel and Clothing Accessories Export Supplies