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Pakistan Refinery approaches banks for syndicated loan - bankers
October 13, 2016 / 12:41 PM / a year ago

Pakistan Refinery approaches banks for syndicated loan - bankers

DUBAI, Oct 13 (Reuters) - Pakistan Refinery is in talks with international banks over a potential syndicated loan, bankers involved in the discussions said.

The loan proceeds will be used to double Pakistan Refinery’s refining capacity, they said.

The company did not immediately respond to a request for comment.

Talks are at an early stage, the bankers said, with one of them saying that that no mandate has been awarded yet.

Pakistan Refinery was incorporated as a public limited company in 1960. It has a processing capacity of 47,000 barrels per day of crude oil. (Reporting by Davide Barbuscia and Tom Arnold. Editing by Jane Merriman)

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