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AB Bank, UCB, IIDFC arrange term loan for Fiber@Home

A signing and cheque handover ceremony for the syndicated term loan to the tune of Tk 1004 million and $ 6.35 million (without IDCP) for Fiber@Home Limited arranged by AB Bank Limited, United Commercial Bank Limited (UCB) and Co-arranger Industrial and Infrastructure Development Finance Company Limited (IIDFC) was held at a city hotel Tuesday where Governor of Bangladesh Bank Dr. Atiur Rahman was present as the chief guest.

A signing and cheque handover ceremony for the syndicated term loan to the tune of Tk 1004 million and $ 6.35 million (without IDCP) for Fiber@Home Limited arranged by AB Bank Limited, United Commercial Bank Limited (UCB) and Co-arranger Industrial and Infrastructure Development Finance Company Limited (IIDFC) was held at a city hotel Tuesday where Governor of Bangladesh Bank Dr. Atiur Rahman was present as the chief guest.

AB Bank Limited, United Commercial Bank Limited (UCB) and Co-arranger Industrial and Infrastructure Development Finance Company Limited (IIDFC) has arranged a syndicated term loan to the tune of Tk 1004 million and $ 6.35 million (without IDCP) for Fiber@Home Limited, said a statement.

A signing and cheque handover ceremony for the syndicated term loan was held at a city hotel Tuesday where Governor of Bangladesh Bank Dr. Atiur Rahman was present as the chief guest. Two agreements were signed, one between the IPFF Cell of Bangladesh Bank and the Participating Lenders and the another between Fiber@Home Limited (Borrowing Company) and Participating Lenders.

AB Bank Limited and United Commercial Bank Limited are the mandated Lead Arrangers whereas Industrial and Infrastructure Development Finance Company Limited (IIDFC) was the Co-arranger of the deal. AB Bank Limited is the Agent Bank for the Syndication.

Fiber@Home Limited, a transmission service providing entity in the Information and Communication Technology Infrastructure Industry, will expand its services of the Nationwide Optical Fiber Telecommunication Transmission Network (NTTN) throughout Bangladesh. Fiber@Home has obtained all necessary permissions/approvals from the authorities concerned and has been awarded with the Nationwide Optical Fiber Telecommunication Transmission Network license on January 01, 2009.

This syndication deal includes Investment Promotion and Financing Facility (IPFF) of the World Bank, implemented by IPFF Project Cell, Bangladesh Bank. AB Bank Limited, United Commercial Bank Limited, IIDFC Limited, Trust Bank Limited, GSP Finance Limited and Lanka Bangla Finance Limited have participated in this infrastructure based large scale credit facility by signing the Term Loan Facility Agreement.

Amongst others, Deputy Governor of Bangladesh Bank and Project Director of IPFF Project, Md. Abul Quasem, Managing Director (Current Charge) of AB Bank Limited Moshiur Rahman Chowdhury, Chairman of IIDFC M. Matiul Islam, Managing Director of IIDFC Md. Asaduzzaman Khan, Managing Director of United Commercial Bank Limited Muhammed Ali, Managing Director of Fiber@Home Moynul Haque Siddiqui, A.K.M Abdullah, Senior Financial Sector Specialist, The World Bank, Dhaka and Senior Officials from Bangladesh Bank, World Bank, the Participating Lenders and Fiber@Home Limited were present at the signing ceremony.

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Source: Financial Express

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