Dost Steels Limited (PSX: DSL) has signed a restructuring agreement with a consortium of banks, the company informed the main bourse on Tuesday.
Under the agreement, the company’s outstanding liabilities, amounting to Rs. 2.08 billion, inclusive of all future markup, will be rescheduled and repaid over a period of four years. The repayment will be made in quarterly instalments, beginning with a down payment of Rs. 50 million from the total settled amount.
The filing further disclosed that the company’s new investors have guaranteed the repayment schedule, offering a level of assurance to the involved financial institutions. The move is expected to improve Dost Steels’ financial stability and support its ongoing operational activities.