ACI Logistics to establish 125 retail outlets
Sunday, 7 June 2009
FE Report
Standard Chartered Bank has arranged a syndicated term loan of Tk 840 million for ACI Logistics Limited.
The facility is aimed to finance setting up of 125 country-wide retail outlets of ACI Logistics Limited that will address everyday household needs of consumers.
The company has already opened 12 stores under the brand name of "Shwapno" in Dhaka.
The syndicated term loan will help the company thrive retail chain outlets business in the country.
The agreement was signed amongst ACI Logistics Limited, Standard Chartered Bank, the Mandated Lead Arrangers of the facility, One Bank Limited and Trust Bank Limited, the Co-Arrangers of the Facility and Agrani Bank Limited, Bank Asia Limited, IFIC Bank Limited, One Bank Limited, Standard Bank Limited, Standard Chartered Bank, Trust Bank Limited and Uttara Bank Limited the participating commercial banks.
Standard Chartered Bank is also playing role of Agent to the Facility, said a press release.
In the ceremony held Wednesday in the city, Mr. M. Anis Ud Dowla, Chairman of ACI Limited highlighted the group's success story in Bangladesh and also spoke about their commitment to the country.
ACI's mission is to enrich the quality of life of people through
responsible application of knowledge, skills and technology. In line with this vision, the group has taken up the challenging task of setting up the first of its kind retail chain outlets in Bangladesh targeting towards the mass market. These stores are aimed at providing consumers low price close to kitchen markets while offering a super store type buying experience.
Mr. Osman Morad, CEO Bangladesh of Standard Chartered Bank mentioned that SCB is delighted to be the Mandated Lead Arranger & Agent for ACI in this transaction.
He thanked the participating banks and financial institutions for their ongoing contribution to help SCB develop and lead the syndicated debt market in Bangladesh.
Standard Chartered is leading the syndicated debt market in Bangladesh as well as Asia (ex-Japan) in terms of amount. Since pioneering in 1997, the syndications unit of Standard Chartered Bank has put together over Tk 102 billion equivalent local and foreign currency syndicated loan facilities in Power, Telecommunication, Infrastructure, Food & Beverage, Textile, Service and other key sectors.
Over last 10 years, the syndicated loan market has grown 50 per cent year - on - year basis in line with the industrial growth of the country.
Standard Chartered Bank has arranged around 60 per cent of the total syndicated debt raised in the market for last 12 years. However, with the growing need of structuring, the Bank is now encouraging development of more structured debt solutions, such as - Asset Backed Securitized Bonds, Commercial Bonds, Commercial Papers and Convertible Bonds and so on.
Standard Chartered Bank has arranged a syndicated term loan of Tk 840 million for ACI Logistics Limited.
The facility is aimed to finance setting up of 125 country-wide retail outlets of ACI Logistics Limited that will address everyday household needs of consumers.
The company has already opened 12 stores under the brand name of "Shwapno" in Dhaka.
The syndicated term loan will help the company thrive retail chain outlets business in the country.
The agreement was signed amongst ACI Logistics Limited, Standard Chartered Bank, the Mandated Lead Arrangers of the facility, One Bank Limited and Trust Bank Limited, the Co-Arrangers of the Facility and Agrani Bank Limited, Bank Asia Limited, IFIC Bank Limited, One Bank Limited, Standard Bank Limited, Standard Chartered Bank, Trust Bank Limited and Uttara Bank Limited the participating commercial banks.
Standard Chartered Bank is also playing role of Agent to the Facility, said a press release.
In the ceremony held Wednesday in the city, Mr. M. Anis Ud Dowla, Chairman of ACI Limited highlighted the group's success story in Bangladesh and also spoke about their commitment to the country.
ACI's mission is to enrich the quality of life of people through
responsible application of knowledge, skills and technology. In line with this vision, the group has taken up the challenging task of setting up the first of its kind retail chain outlets in Bangladesh targeting towards the mass market. These stores are aimed at providing consumers low price close to kitchen markets while offering a super store type buying experience.
Mr. Osman Morad, CEO Bangladesh of Standard Chartered Bank mentioned that SCB is delighted to be the Mandated Lead Arranger & Agent for ACI in this transaction.
He thanked the participating banks and financial institutions for their ongoing contribution to help SCB develop and lead the syndicated debt market in Bangladesh.
Standard Chartered is leading the syndicated debt market in Bangladesh as well as Asia (ex-Japan) in terms of amount. Since pioneering in 1997, the syndications unit of Standard Chartered Bank has put together over Tk 102 billion equivalent local and foreign currency syndicated loan facilities in Power, Telecommunication, Infrastructure, Food & Beverage, Textile, Service and other key sectors.
Over last 10 years, the syndicated loan market has grown 50 per cent year - on - year basis in line with the industrial growth of the country.
Standard Chartered Bank has arranged around 60 per cent of the total syndicated debt raised in the market for last 12 years. However, with the growing need of structuring, the Bank is now encouraging development of more structured debt solutions, such as - Asset Backed Securitized Bonds, Commercial Bonds, Commercial Papers and Convertible Bonds and so on.