DHAKA: Prime Bank Limited arranged a syndication agreement signing ceremony as the Lead Arranger through raising BDT 3960 million for Star Ceramics Pvt. Limited (SCPL) on 3rd October at a local hotel in the city.
Besides Prime Bank 7 more banks namely Mutual Trust Bank Ltd, Trust Bank Limited, The City Bank Ltd, Mercantile Bank Ltd, National Credit & Commerce Bank Ltd, Meghna Bank Ltd. & ONE Bank Ltd, and Saudi-Bangladesh Industrial and Agricultural Investment Company Ltd. participated in the syndication deal.
Managing Director & CEO of Prime Bank Limited Md Ehsan Khasru, Additional Managing Director of Mutual Trust Bank Limited Md Ahsan-uz Zaman, SEVP & Head of Operations of Trust Bank Limited Abu Zafar Hedaytul Islam, Deputy Managing Director of Meghna Bank Ltd Md Nazrul Hussain, Managing Director (Current Charge) of Mercantile Bank Limited Md Abdul Jalil Chowdhury, Additional Managing Director of NCC Bank Limited Golam Hafiz Ahmed, Deputy Managing Director of The City Bank Limited Sheikh Mohammad Maroof, Managing Director (Current Charge) of ONE Bank Limited M Fakhrul Alam, Managing Director of Saudi-Bangladesh Industrial and Agricultural Investment Company Limited Quazi Shairul Hassan, and Managing Director of Star Ceramics Pvt Ltd Syed AK Anwaruzzaman signed the agreement on behalf of their respective organizations and spoke on the occasion.
Deputy Managing Director & CBO of Prime Bank Limited Kanti Kumar Saha delivered welcome address while Chief Operating Officer of Star Ceramics Pvt Ltd Md Moallimul Islam presented the details on the project and Senior Assistant Vice President and In-charge of Structured Finance Department of Prime Bank Mohammad Khurshid Alam gave the vote of thanks in the ceremony.
It should be mentioned that the project under the syndication deal will be established at Madhabpur, Habiganj.
Total project cost is estimated at BDT 5693 Million where the syndication loan is BDT 3960 million.
The project will be established with the latest and advanced machinery from the renowned Italian ceramic machine manufacturer SACMI where two types of products will be produced.
The capacity of tiles unit will be 24000 sqm/day and sanitary unit will be 2000 pcs/day.
Prime Bank has started its journey in loan syndication market by successfully concluding its first syndication in 1999 and closed 22 syndication deals till date.
Prime Bank Limited achieved a remarkable milestone in the banking arena as Lead Arranger and played the role of Agent Bank for a large number of syndication deals by arranging funds in glass manufacturing, pharmaceuticals, ceramics, tourism, textile industry, chemical, micro-credit and agricultural finance, infrastructure development, telecom etc.
BDST: 1838 HRS, OCT 05, 2013
AKA/RIS
