City Bank arranges funding for Doreen to set up 162MW powerplant
courtesy
Tribune Desk
Publish : 01 Nov 2021, 05:44 PMUpdate : 20 Feb 2022, 03:54 PM
City Bank has recently arranged funding to help set up a heavy fuel oil (HFO) fired power plant of Doreen Group named Manikganj Power Generations Limited (MPGL), which has a capacity of 162 MW and is located at Shingair, Manikganj, Bangladesh.
Under the syndication arrangements, City Bank has arranged long term loan facilities totalling Tk742 crore taka from Bank Asia Limited, Eastern Bank Limited and itself, according to a press release.
City Bank participated in the syndication with Tk217 crore and provided a credit guarantee of Tk525 crore against which Bank Asia and Eastern Bank have financed their parts.
The financial closure ceremony took place in the capital’s Renaissance Dhaka Gulshan Hotel.
Tahzeeb Alam Siddique MP, managing director of Manikganj Power Generations Limited; Mashrur Arefin, managing director and CEO of City Bank; Md Arfan Ali, president and managing director of Bank Asia Limited and Ahmed Shaheen, deputy managing director and head of corporate banking Bangladesh of Eastern Bank Limited, were present the occasion.
Sheikh Mohammad Maroof, additional managing director; Mostafa Moin, CEO of Manikganj Power Generations Limited; Mohammad Jahangir Alam, cluster head, PPP and Service sector of City Bank and Mahbub Jamil, head of structured finance of City Bank were also present.
City Bank arranges funding for Doreen to set up 162MW powerplant
City Bank has recently arranged funding to help set up a heavy fuel oil (HFO) fired power plant of Doreen Group named Manikganj Power Generations Limited (MPGL), which has a capacity of 162 MW and is located at Shingair, Manikganj, Bangladesh.
Under the syndication arrangements, City Bank has arranged long term loan facilities totalling Tk742 crore taka from Bank Asia Limited, Eastern Bank Limited and itself, according to a press release.
City Bank participated in the syndication with Tk217 crore and provided a credit guarantee of Tk525 crore against which Bank Asia and Eastern Bank have financed their parts.
The financial closure ceremony took place in the capital’s Renaissance Dhaka Gulshan Hotel.
Tahzeeb Alam Siddique MP, managing director of Manikganj Power Generations Limited; Mashrur Arefin, managing director and CEO of City Bank; Md Arfan Ali, president and managing director of Bank Asia Limited and Ahmed Shaheen, deputy managing director and head of corporate banking Bangladesh of Eastern Bank Limited, were present the occasion.
Sheikh Mohammad Maroof, additional managing director; Mostafa Moin, CEO of Manikganj Power Generations Limited; Mohammad Jahangir Alam, cluster head, PPP and Service sector of City Bank and Mahbub Jamil, head of structured finance of City Bank were also present.
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