Bank Asia arranges Tk 1700m syndicated finance for Star Porcelain

Bank Asia, as Lead Arranger and Agent, has arranged Syndicated Term Loan of Tk. 1,700.00 million for Star Porcelain Pvt. Ltd. to help the company set up of a 100 per cent export-oriented high quality porcelain tableware products, which will be exported to Europe, Middle East, Far East, North and South America countries. An estimated cost for the project has been earmarked Tk. 2,480.00 mln.

PhotoA signing ceremony for the syndicated finance was held at a local hotel in the capital on Thursday (April 17, 2014). President and Managing Director of Bank Asia Mr. Md. Mehmood Husain and Director of Star Porcelain Pvt. Ltd. Mr. Syed A.K. Anwaruzzaman, CIP, represented the program. Banks and Financial Institutions participated in the deal are Bank Asia Ltd, Jamuna Bank Ltd, Midland Bank Ltd, NRB

Commercial Bank Ltd, NRB Bank Ltd, Social Islami Bank Ltd, Saudi-Bangladesh Industrial & Agricultural Investment Company Ltd. (SABINCO), Standard Bank Ltd, Trust Bank Ltd and Uttara Bank Ltd. The project of Star Porcelain Pvt. Ltd is located at Horitola, Madhabpur, Habigonj on 1,645.10 decimal of land.

Mentionable that Bank Asia’s Syndication Finance Unit has been active in the Syndication market as Lead Arranger since 2000 and it has concluded 15 deals, raising more than Tk.10.00 billion from the market.

Caption: Mr. Md. Mehmood Husain, President & Managing Director of Bank Asia and Director of Star Porcelain Pvt. Ltd Mr. Syed A.K. Anwaruzzaman, CIP along with top executives of participating lenders are seen in the signing ceremony held at a local hotel in the capital Dhaka on Thursday.