LAHORE, June 19: A leading textile unit was provided with syndicate term facility of Rs500 million by a consortium of leading banks on Thursday.

A signing ceremony took place here on Thursday morning for the syndicate term facility for Hashir Textile Mills Limited, one of the largest spinning units of textile sector and a wholly owned subsidiary of Husnain Cotex Limited (Husnain), the leading emerging group of Pakistan.

The syndicate facility has been arranged jointly by United Bank Limited and Bank Alfalah Limited and other members include Saudi Pak Commercial Bank Limited and Saudi Pak Industrial & Agricultural Investment Co (Pvt) Limited.

The financial transaction shows trust and confidence placed by the leading financial institutions of the country in Husnain’s capabilities to also run its industrial affairs in excellent manner.—APP