MTB closes deal for US$ 15m term loan
Monday, 25 April 2022
Mutual Trust Bank Ltd (MTB) recently closed term loan deal of US$ 15 million with four funds managed by responsAbility Investments AG. This is the first long term Secured Overnight Financing Rate (SOFR)-based borrowing for the Bank, said a statement.
responsAbility Investments AG is a Swiss based impact asset manager investing in the sectors of financial inclusion, sustainable food and climate finance whose business models directly support the United Nation's SDGs.
The impact funds in foreign currency will help MTB to support small and medium enterprises to achieve sustainable economic growth. The funds will be routed through MTB's Offshore Banking Unit.
MTB's Managing Director & CEO, Syed Mahbubur Rahman appreciated respons Ability Investments AG for considering MTB as their financial partner.
This partnership will contribute significantly to the overall socio-economic development of the country in providing innovative financial solutions with a view to meeting SME customers' evolving needs.