EBL arranges Tk 12b syndication loan facility for Banglalink

Eastern Bank Limited (EBL) as the mandated lead arranger has raised BDT 12 billion in the form of Syndicated Term Loan Facility for Banglalink Digital Communications Limited, one of the leading telecom operators in Bangladesh.

A total of 17 banks participated in the landmark syndication

A signing ceremony to this effect took place Tuesday at The Westin, Dhaka. Mohd. Humayun Kabir, Executive Director, Bangladesh Bank, graced the occasion as special guest.

The loan facility will be utilized by Banglalink for meeting up its capital expenditure, spectrum acquisition and 4G network modernizations.

"The significant investment that we are set to make, is yet another testament to our firm commitment to the Bangladesh market. We are happy to have the country's leading banks as our partners for our future growth.

I am confident that our network expansion will accelerate our journey towards the target of double-digit growth and will make us more equipped to contribute towards the digital progress of Bangladesh," said Erik Aas, Chief Executive Officer, Banglalink.

"EBL has been in the forefront of financing and facilitating the development of digital solutions in the country. I would like to express my thanks to all the participating lenders for their tremendous support in the timely closure of this deal", said Ali Reza Iftekhar, Managing Director and CEO, EBL. "The syndication deal underscores the strength of Banglalink's credit worthiness and goodwill among the financial community. I hope this deal will support Banglalink's profitable growth further."

The other participating banks are: Brac Bank Limited, Bank Asia Limited, The City Bank Limited, Commercial Bank of Ceylon PLC, Dhaka Bank Ltd., Dutch Bangla Bank Limited, Habib Bank Limited, Jamuna Bank Limited, Meghna Bank Limited, NCC Bank Limited, Mutual Trust Bank Limited, ONE Bank Limited, Prime Bank Limited, Trust Bank Limited, Mercantile Bank Limited, United Commercial Bank Limited.