PIA concludes $130 million financing facility

Pakistan International Airlines (PIA) has concluded a financing facility of $130 million. The lead arrangers are United Bank Limited Pakistan and Credit Suisse Singapore office. According to PIA spokesman, an agreement to this affect was recently signed in Dubai. The lenders include Credit Suisse, United Bank Limited and National Bank of Pakistan.
The facility reflects the confidence and trust of the international financing institutions on the operations of PIA and will be utilised by PIA for its general working capital requirement and improvement in passenger services, the spokesman maintained.