Pakistani rebar producer Dost Steels Limited has finalized a loan restructuring agreement with a consortium of banks to reschedule outstanding debt of PKR 2.08 bln (USD 7.35 mln), including future markup, according to a stock exchange filing.
Under the revised plan, the debt will be repaid over four years in quarterly installments, starting with an initial payment of PKR 50 mln (USD 0.17 mln). The company’s new investors have provided guarantees to ensure strict adherence to the repayment schedule.
Dost Steels, with an annual rebar production capacity of 350,000 tons, has remained idle since 2019 due to financial difficulties. Its rolling mill was supplied by Siemens-VAI/Primetals.
1 USD / 282.9 PKR