TRG Pakistan Limited, a significant shareholder in The Resource Group International Limited (TRGI), announced today that its portfolio company, Afiniti Limited, has successfully restructured its balance sheet. The comprehensive plan, agreed upon with senior lenders, is expected to significantly strengthen Afiniti’s financial position and fuel its growth in the AI technology industry.
Key elements of the restructuring include a substantial reduction in Afiniti’s debt, an extension of debt maturity, and a recapitalization of its balance sheet. The senior lenders, existing preferred shareholders (including TRGI), and Afiniti management will retain significant equity stakes in the company.
The restructuring will also lead to reduced interest payments, providing Afiniti with additional resources to accelerate its growth initiatives.
TRG Pakistan’s indirect economic stake in Afiniti will remain substantially unchanged on a fully diluted basis. The company will provide further details about the Afiniti restructuring transaction once shared by Afiniti.
The closing of the restructuring is subject to court approval in Bermuda and the United States and is anticipated to be completed before the end of the year.
TRG Pakistan’s shares were trading at Rs. 54.8 at the time of the announcement, down 0.9 percent from the previous day.
