Power Cement Limited to Re-profile Long-Term Debt of Rs. 11.9 Billion

Power Cement Limited (PSX: POWER) has decided to re-profile long-term obligations of Rs. 11.9 billion, the company informed the Pakistan Stock Exchange on Monday. “In the wake of rising inflationary pressures, high-interest rates and depressed local demand, Power Cement Limited (the Company) has finalized an arrangement with a local syndicate of banks to re-profile its outstanding long-term obligations of Rs. 11.9 billion,” the filing stated. The local syndicate of banks in respect of their long-term debt has favorably agreed on the following salient terms: Despite the challenges posed to the Company due to macroeconomic factors, the Company remains committed to maximizing its shareholders’ value and effectively minimizing the impacts of adverse macroeconomic conditions, the filing concluded.