Five banks extend Tk 390m loan to Wisteria Textile
Monday, 10 September 2007
FE Report
A total of five banks led by Agrani Bank have entered an agreement with Wisteria Textile Limited to provide a loan worth Tk 390 million (39.00 crore) to the textile mill, said a press release.
The five banks are Agrani, Sonali, Janata, BSRS and NCC Bank.
Under the agreement the banks will provide the loan to the Wisteria Textile under syndicated financing.
Former finance secretary and Chairman of Agrani Bank Siddiqur Rahman Chowdhury was present as the chief guest at the agreement signing ceremony.
Directors of Agrani Bank along with the bank's Managing Director and CEO Syed Abu Naser Bukhtear Ahmed, Sonali Bank Managing Director Aminur Rahman, BSRS Managing Director FRM Hafizul Islam, NCC Bank Managing Director Nurul Amin, Agrani Bank DMD Syed Abdul Hamid and Janata Bank DMD Mizanur Rahman were also present on the occasion, among others.
Chairman of the Agrani Bank lauded the system of syndicated financing and assured its expansion in future.
Syed Abu Naser said he is proud to be a lead bank for financing this 100 per cent export-oriented and environment pollution-free industry.
He also revealed that the total cost of the project would be Tk. 660 million (66.00 crore), of which five banks would provide Tk. 390 million on a 40:60 debt-equity ratio.
A total of five banks led by Agrani Bank have entered an agreement with Wisteria Textile Limited to provide a loan worth Tk 390 million (39.00 crore) to the textile mill, said a press release.
The five banks are Agrani, Sonali, Janata, BSRS and NCC Bank.
Under the agreement the banks will provide the loan to the Wisteria Textile under syndicated financing.
Former finance secretary and Chairman of Agrani Bank Siddiqur Rahman Chowdhury was present as the chief guest at the agreement signing ceremony.
Directors of Agrani Bank along with the bank's Managing Director and CEO Syed Abu Naser Bukhtear Ahmed, Sonali Bank Managing Director Aminur Rahman, BSRS Managing Director FRM Hafizul Islam, NCC Bank Managing Director Nurul Amin, Agrani Bank DMD Syed Abdul Hamid and Janata Bank DMD Mizanur Rahman were also present on the occasion, among others.
Chairman of the Agrani Bank lauded the system of syndicated financing and assured its expansion in future.
Syed Abu Naser said he is proud to be a lead bank for financing this 100 per cent export-oriented and environment pollution-free industry.
He also revealed that the total cost of the project would be Tk. 660 million (66.00 crore), of which five banks would provide Tk. 390 million on a 40:60 debt-equity ratio.