Prime Bank arranges syndicated term loan of BDT 3.52 billion

Prime Bank arranged its 28th syndication deal as Lead Arranger through raising BDT 3.52 billion to implement the float glass manufacturing project of Nasir Float Glass Industries Ltd. Monday at a local hotel in the city, said a statement.

Prime Bank with seven more banks-Bank Asia Limited, Eastern Bank Limited, Jamuna Bank Limited, NCC Bank Limited, ONE Bank Limited, Standard Bank Limited and Trust Bank Limited-participated in the loan syndication.

Ahmed Kamal Khan Chowdhury, Managing Director of Prime Bank Limited, Md. Arfan Ali, President & Managing Director of Bank Asia Limited, Hassan O. Rashid, Additional Managing Director of Eastern Bank Limited, Shafiqul Alam, Managing Director of Jamuna Bank Limited, Golam Hafiz Ahmed, Managing Director & CEO of NCC Bank Limited, Rozina Aliya Ahmed, Additional Deputy Managing Director of ONE Bank Limited, Mamun-Ur-Rashid, Managing Director of Standard Bank Limited, Ishtiaque Ahmed Chowdhury, Managing Director & CEO of Trust Bank Limited and Nasiruddin Biswas, Managing Director of Nasir Float Glass Industries Limited inked the agreement on behalf of their organisations and spoke on the occasion. Two other Directors of NFGIL, Nasim Biswas and Nashima Biswas, share holders and other high officials of Nasir Group were also present on the occasion.

The project under the syndication will be established at Dubail, Delduar, Tangail and the total cost is estimated to be BDT 6.63 billion which will be financed through syndicated term loan of BDT 3.52 billion. The production capacity of the project will be 600mt per day. China Triumph International Engineering Company Ltd. (CTIEC) has been engaged to implement the project on turnkey basis.