02 March 2011
Running a tight ship
All MLAs know the difficulty of adhering to the needs of every party. Standard Chartered’s handling of Pakistan’s first ship financing, in November last year, was a superb example of balancing a client’s objectives with an investor’s eye for a secured return. But what is more impressive, its loan deal with Pakistan National Shipping Company (PNSC) also turned out to be the country’s largest syndicated deal of 2010. The eight-year loan agreement for $120 million will allow PNSC to acquire five multi-purpose dry cargo vessels, revamping its fleet at a time when...
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