Bashundhara Group secures Tk 7,000m in syndicated loan

Bashundhara Industrial Complex Ltd, a concern of the country’s leading business conglomerate Bashundhara Group, has signed an agreement to mobilise Tk 7,000 million under a syndicated term loan from lead arranger Bank Asia and five other banks. Under the agreement, Bank Asia and five other lenders including Dhaka Bank, First Security Islami Bank Ltd (FSIBL), Pubali Bank, Social Islami Bank Ltd (SIBL), United Commercial Bank (UCB) sanctioned a term loan of Tk 7,000 million in favour of Bashundhara Industrial Complex Ltd. Bashundhara Group Managing Director Sayem Sobhan Anvir, Bank Asia President and Managing Director Md Arfan Ali and representatives from the participating lenders signed the agreement on behalf of their respective sides at a city hotel on Thursday. Other signatories of the agreement include Pubali Bank Ltd Managing Director Abdul Halim Chowdhury, Dhaka Bank Managing Director and CEO Emranul Huq, FSIBL Additional Managing Director Mustafa Khair, UCB Additional Managing Director Mamdudur Rashid and SIBL Additional Managing Director Kazi Towhidul Alam. Speaking on the occasion, Bashundhara Group Managing Director Sayem Sobhan Anvir said no business entity can take forward their business without the support from banks. “We appreciate the support from the banks to provide the loans despite the coronavirus crisis,” he added. Bashundhara Group is working on many new projects, he said, seeking cooperation from all stakeholders and financial institutions. Praising Bashundhara Group for its contribution to the country’s business and economy, Bank Asia Managing Director said they are proud to be the lead arranger of this syndicated loan for Bashundhara Group. He also said Bashundhara Group has been at the forefront of the country’s economic development as they are involved in a diverse set of business. Top officials of the lender banks and Bashundhara Group were also present on the occasion.