EBL raises Tk 465cr for Bangla Trac Power

Eastern Bank Ltd, as the lead arranger and agent, has raised a syndication term loan of Tk 465.6 crore for Bangla Trac Power Unit-2 Ltd, one of the sister concerns of Bangla Trac Group.

The 100-megawatt power plant in Noapara, Jashore has been in commercial operation since April 2018, the bank said in a statement yesterday.

The other participating lenders are Bangladesh Infrastructure Finance Fund Ltd, Saudi Bangladesh Industrial and Agricultural Investment Company Ltd (SABINCO), Rupali Bank, and Shahjalal Islami Bank.

A deal closing ceremony was held at the Le Meridien hotel in Dhaka on Sunday.

Khaled Mahmood, chairman of Bangladesh Power Development Board; Tarique Ekramul Haque, managing director of Bangla Trac Power Unit-2; M Jahangir Alam, group CEO of Bangla Trac; Abdur Razzaque Ruhani, CEO of Bangla Trac Power; Ali Reza Iftekhar, managing director and CEO of EBL; Hassan O Rashid, additional managing director, and Ahmed Shaheen, deputy managing director, were present.

SM Formanul Islam, executive director and CEO of Bangladesh Infrastructure Finance Fund; Quazi Shairul Hassan, managing director of SABINCO; Khan Iqbal Hossain, general manager of Rupali Bank, and Mahmud Hossain, head of foreign exchange branch of Shahjalal lslami Bank, also attended the event.