Cordoba Logistics restructures loan, doubles CFSL investment limit to Rs2bn

Cordoba Logistics & Ventures (CLVL) disclosed to the PSX that its board has signed off on revised terms for a loan extended by its sponsor, Danish Elahi. Under the restructured arrangement, repayment of the borrowing and the accumulated markup will be reorganised. The changes take effect from June 30, 2026, and the company may settle the sum owed either in cash or by converting it into equity, as it chooses.

According to the filing, no interest, markup or other return will accrue or be payable on the restructured sponsor loan from June 30, 2026. Separately, the board has approved lifting the funding ceiling for its subsidiary, Cordoba Financial Services Limited (CFSL, formerly Cordoba Leasing Limited), from Rs1bn to Rs2bn. The approval is subject to shareholder consent and applicable law.

The higher ceiling will also include corporate guarantees given for the subsidiary's bank and financial institution borrowings, whether already obtained or planned. Total outstanding exposure under loans, advances and guarantees will be restricted to Rs2bn. The company informed the Exchange of these decisions through a notification.