Prime Bank arranges Tk 150m syndicated loan for CECCL
Friday, 14 November 2008
FE Report
Prime Bank Limited (PBL) has successfully concluded a Tk 150 million syndicated loan agreement as lead arranger with two other private commercial banks for Configure Engineering and Construction Company Limited (CECCL) for setting up a five-star hotel in Cox's Bazar.
The two other banks are the Pubali Bank Limited and the Mutual Trust Bank Limited.
A signing ceremony was held at a local hotel Thursday where the managing directors and chief executives of the participating banks and the sponsors of the project were present.
Managing Director of Prime Bank Limited M Ehsanul Haque, Managing Director of Pubali Bank Limited Helal Ahmed Chowdhury, Deputy Managing Director of Mutual Trust Bank Limited Quamrul Islam Chowdhury, Chairman of CECCL Habibur Rahman and Managing Director of CECCL Khurshid Alam Opu signed the agreement on behalf of their respective organisations.
The PBL, a leading private commercial bank, has been working in the syndication market by successfully concluding the first syndication deal as lead arranger since 1999 and now the bank is a dominant player in the area.
Deputy Managing Director of PBL Mehmood Hosain delivered the welcome address and Senior Vice President and Head of Syndications & Structured Finance of the bank Touhidul Alam Khan gave the vote of thanks at the ceremony.
"We're providing loans through syndication to minimise financial risk as per the central bank's advice," Managing Director of the PBL M Ehsanul Haque told the FE after signing the deal.
He also said the bank is now planning to arrange such credit facilities for two more projects.
Keeping their role as pathfinder in syndication market the PBL has established a strong position in banking arena as lead arranger and agent by arranging a good number of deals through raising fund for large as well as medium size industries, the bank said.
Prime Bank Limited (PBL) has successfully concluded a Tk 150 million syndicated loan agreement as lead arranger with two other private commercial banks for Configure Engineering and Construction Company Limited (CECCL) for setting up a five-star hotel in Cox's Bazar.
The two other banks are the Pubali Bank Limited and the Mutual Trust Bank Limited.
A signing ceremony was held at a local hotel Thursday where the managing directors and chief executives of the participating banks and the sponsors of the project were present.
Managing Director of Prime Bank Limited M Ehsanul Haque, Managing Director of Pubali Bank Limited Helal Ahmed Chowdhury, Deputy Managing Director of Mutual Trust Bank Limited Quamrul Islam Chowdhury, Chairman of CECCL Habibur Rahman and Managing Director of CECCL Khurshid Alam Opu signed the agreement on behalf of their respective organisations.
The PBL, a leading private commercial bank, has been working in the syndication market by successfully concluding the first syndication deal as lead arranger since 1999 and now the bank is a dominant player in the area.
Deputy Managing Director of PBL Mehmood Hosain delivered the welcome address and Senior Vice President and Head of Syndications & Structured Finance of the bank Touhidul Alam Khan gave the vote of thanks at the ceremony.
"We're providing loans through syndication to minimise financial risk as per the central bank's advice," Managing Director of the PBL M Ehsanul Haque told the FE after signing the deal.
He also said the bank is now planning to arrange such credit facilities for two more projects.
Keeping their role as pathfinder in syndication market the PBL has established a strong position in banking arena as lead arranger and agent by arranging a good number of deals through raising fund for large as well as medium size industries, the bank said.