A “Signing & Cheque Handover Ceremony” for the syndicated term loan facility of BDT 1980.00 million for KDS Logistics Limited was held yesterday at The Westin, Dhaka. Dhaka Bank Limited is the mandated Lead Arranger and Agent Bank for the syndication. Honorable Governor of Bangladesh Bank Dr. Atiur Rahman presided the event as Chief Guest.
The company will expand the capacity of the Inland Container Depot. This particular project located at Sitakunda has current capacity of 139,000 TEUs (Twenty Feet Equivalent Unit)/year, which they have planned to increase up to 228,000 TEUs (Twenty Feet Equivalent Unit)/year.
This syndication deal includes IPFF facility of the World Bank, implemented by IPFF Project Cell, Bangladesh Bank. 5 Banks and 3 Non-Banking Financial Institutions (“NBFI”) have participated in this infrastructure-based large scale credit facility. IPFF funding of 1500 million includes BDT 1150 million & USD 4.50 million. Meanwhile 4 Banks have participated in the Non -IPFF portion of BDT 480 million.
Chairman and Managing Director of KDS Logistics Limited and Senior officials from Bangladesh Bank, World Bank, the participating lenders and the borrower company were present in the signing ceremony.