Tk 1.7b Citibank syndicated loan for Nasir Group unit
Monday, 28 December 2009
Citibank, NA, Dhaka Branch Sunday announced that it has successfully arranged syndicated facility of Tk 1.7 billion ($24.6 million) to provide financing for Nasir Glassware and Tube Industries Limited, a sister concern of Nasir Group - one of the most reputed large local conglomerates in Bangladesh, said a press release.
This 5-year term loan facility will be utilised to finance the purchase of capital machinery and other long-term investments associated with the implementation of the project.
Citibank, NA, Dhaka Branch is the sole Mandated Lead Arranger for the syndication. Other participants in the syndication include, Agrani Bank Ltd, Eastern Bank Ltd, Janata Bank Ltd and Shahjalal Islami Bank Ltd.
This transaction marks the closure of another significant deal in 2009 for Citibank, NA Bangladesh where Citi is maintaining strong focus on the local corporate segment. This deal adds to Citibank's already established track record in the local corporate segment.
This 5-year term loan facility will be utilised to finance the purchase of capital machinery and other long-term investments associated with the implementation of the project.
Citibank, NA, Dhaka Branch is the sole Mandated Lead Arranger for the syndication. Other participants in the syndication include, Agrani Bank Ltd, Eastern Bank Ltd, Janata Bank Ltd and Shahjalal Islami Bank Ltd.
This transaction marks the closure of another significant deal in 2009 for Citibank, NA Bangladesh where Citi is maintaining strong focus on the local corporate segment. This deal adds to Citibank's already established track record in the local corporate segment.