PBL, Tania Cotton sign syndicated loan deal

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FE Report
The Prime Bank Limited (PBL) signed Wednesday a syndicated term loan deal worth Tk 650 million with Tania Cotton Mills Limited (TCML).
Ten private commercial banks and financial institutions including a foreign-owned bank participated in the financing under the lead arrangement of the PBL.
The Prime Bank organised a programme at a city hotel Wednesday to mark the signing ceremony.
Managing Director of the PBL M Shajahan Bhuiyan moderated the function.
The PBL arranged the syndication term loan as lead arranger for setting up of the 100 per cent export oriented spinning mill -- TCML. The cotton mill is going to be set up at Bhaluka in Mymensingh.
Managing Directors of the banks and financial institutions M Shajahan Bhuiyan of PBL, Helal Ahmed Chowdhury of Pubali Bank, Md Lakiotullah of Jamuna Bank, Iqbal U Ahmed of Trust Bank, Md Minhaz Zia of SABINCO, Kazi Moshiur Rahman of Exim Bank, Md Farhad Hossian of Bangladesh Commerce Bank, and Consultant of Uttara Bank Shaikh Aminuddin Ahmed, Country Director of Bank Al Falah Majedur Rahman, Deputy Managing Director of Bank Asia Erfanuddin Ahmed and Managing Director of the TCML Akkas Uddin Mollah signed the agreement on behalf of their respective organisations.
PBL managing director said that it always emphasises the need for syndication financing on large projects to facilitate trade and commerce in the country.
The BRAC and Nasir Glass were the two syndication deals arranged by the Bank.
The PBL is also performing the agency function of these syndication deals successfully and earned good reputation in the syndication market.
Head of Corporate Banking of the PBL Md Mehbood Hosain delivered the address of welcome while the PBL Head of Syndications and Structural Finance Md Touhidul Alam Khan gave the vote of thanks.