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EBL, IDCOL arrange syndication loan for Midland East Power

FE Online Desk | Published: May 14, 2019 14:12:52 | Updated: May 17, 2019 13:17:08


Eastern Bank Ltd. (EBL) and Infrastructure Development Company (IDCOL) as Joint  Lead Arrangers have arranged USD 67.25 million , BDT 920 million and  Working Capital Facility of BDT 4,165 million for the Midland East Power Limited at Ashuganj, Brahmanbaria. 

A joint venture of Viyellatex Group and Youth Group, the 150 MW HFO Power Plant has been in commercial operation since November, 2018.

The deal closing ceremony held recently at The Westin, Dhaka was attended by K.M. Rezaul Hasanat, Chairman and Feroz Alam, Managing Director, Midland East Power Limited ; Ali Reza Iftekhar, Managing Director and CEO and   Hassan O. Rashid, Additional Managing Director, Eastern Bank Limited ;  Mahmood Malik, Executive Director and CEO, Infrastructure Development Company Limited; Nazmul Haque, Director (Investment) and Head of Advisory, IDCOL, Syed Mahbubur Rahman, Managing Director and CEO, Dhaka Bank Limited ;  M. Fakhrul Alam, Managing Director, ONE Bank Limited ; Shams Abdullah Muhaimin, Head of Transaction Banking, Structured Finance and International Division, Prime Bank Limited and others.

-rmc//

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