EBL, 4 other banks to provide Tk 2.60b loan to Salek Textile
Sunday, 28 September 2008
FE Report
A 'pari passu security sharing' agreement was signed between Salek Textile Ltd and Eastern Bank Limited, HSBC, Dhaka Bank Limited, Citibank NA and Trust Bank Limited for a total amount of Tk 2.60 billion.
The amount consists of term loan of Tk 940 million, funded working capital of Tk 150 million and non-funded working capital of Tk 1.51 billion.
Salek Textile Managing Director A Matin Chowdhury and the representatives of the respective banks signed the agreement in the city recently.
Salek Textile is a 90 per cent-owned subsidiary of Malek Spinning Mills Ltd and is equipped with the most modern Schlafhorst Autocoro Open End Machines, which will produce 42 tonnes of high quality yarn per day suitable for denim, knitting and other weaving operations. The plant is expected to go into production within next 2 months.
A 'pari passu security sharing' agreement was signed between Salek Textile Ltd and Eastern Bank Limited, HSBC, Dhaka Bank Limited, Citibank NA and Trust Bank Limited for a total amount of Tk 2.60 billion.
The amount consists of term loan of Tk 940 million, funded working capital of Tk 150 million and non-funded working capital of Tk 1.51 billion.
Salek Textile Managing Director A Matin Chowdhury and the representatives of the respective banks signed the agreement in the city recently.
Salek Textile is a 90 per cent-owned subsidiary of Malek Spinning Mills Ltd and is equipped with the most modern Schlafhorst Autocoro Open End Machines, which will produce 42 tonnes of high quality yarn per day suitable for denim, knitting and other weaving operations. The plant is expected to go into production within next 2 months.