Standard Chartered, Renata seal $29m interest rate swap agreement

Standard Chartered Bangladesh executed a USD 29 million interest rate swap (IRS) for Renata PLC, one of Bangladesh’s leading pharmaceutical companies. The bespoke structure helps Renata manage interest rate volatility on its term loan, ensuring cost certainty and financial resilience.

The transaction agreement was signed by Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh, and Syed S. Kaiser Kabir, Managing Director, Renata PLC. Several senior representatives from both organisations attended the signing ceremony, including Faria Kabir, Head of Corporate Coverage, Corporate & Investment Banking (CIB)and Sabah Saleheen Azim, Head of Markets and Corporate Sales, from Standard Chartered Bangladesh and Mustafa Alim Aolad, Chief Financial Officer from Renata PLC.

This IRS deal enables Renata to convert its five-year long-term loan’s floating rate liability into a fixed-rate payment agreement with Standard Chartered. This structure will protect Renata against any rise in floating rates during the loan’s tenure, allowing the company to lock in a fixed rate for the full tenor with predictable cash flows.

Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh, said, “At Standard Chartered, we are committed to delivering innovative financial solutions that support the resilience and growth ambitions of our clients. By executing this landmark IRS transaction with Renata, we are helping one of Bangladesh’s leading pharmaceutical companies manage volatility in a dynamic interest rate environment. This deal reflects our ability to leverage global expertise and local knowledge to provide tailored risk management solutions that ensure long-term financial certainty.”

Syed S. Kaiser Kabir, Managing Director, Renata PLC, said: “Access to cost-effective and reliable financing is essential to sustain our growth momentum as we expand both locally and internationally. This interest rate swap agreement with Standard Chartered allows us to mitigate exposure to rate fluctuations while ensuring greater predictability in our cash flows. Such financial stability enables us to continue investing in innovation, capacity expansion, and strengthening our global footprint, so that we can serve patients and communities more effectively.”

With over 120 years of uninterrupted presence, Standard Chartered is the only multinational universal bank in Bangladesh. As the nation’s longstanding partner in progress, the Bank utilises innovation and international expertise to design customised financing solutions for our clients.

Renata PLC is one of the largest and fastest-growing pharmaceutical companies in Bangladesh. Its core businesses include human pharmaceuticals and animal health products. At present, Renata operates in 43 countries through partnerships.