Sunday, 17 October, 2021

Pubali Bank closes $52m syndicated loan facility with Bank Muscat

  • Staff Correspondent
  • 8 September, 2021 12:00 AM
  • Print news
Pubali Bank closes $52m syndicated loan facility with Bank Muscat

Pubali Bank has concluded a US$ 52 million syndicated loan facility, which was arranged by Bank Muscat (Sultanate of Oman) as the sole Mandated Lead Arranger and book-runner.

The transaction received strong participation from international financial institutions, with lenders from Asia, Europe and Middle East actively supporting it, said a press release.

The landmark transaction, initially launched for a facility size of US$ 35 million, achieved significant oversubscription of about 48 percent and was then scaled up to finally conclude at US$ 52 million.

Pubali Bank is delighted with the seamless execution of the facility, especially in the face of challenges presented by the ongoing pandemic. 

The loan facility will provide holistic liquidity services, being instrumental in continued import and export activities and help strengthen the country’s economic growth.

In addition, the loan will strengthen the bank’s ability to meet the needs of its over 28 million clients across retail and small and medium enterprises (SMEs), facilitating increased trade and supporting key sectors of Bangladesh’s economy such as the ready-made garment, manufacturing and food processing, production industries and agro-based industries.

Mallikarujuna Korisepati, Global Head, Treasury, Capital Market and FI of Bank Muscat, and Mohammad Shahadat Hossain, Deputy Managing Director signed the loan agreement on behalf of their respective institutions.

 Bank Muscat, which was the sole Mandated Lead Arranger and Book-runner for the Facility, is the leading financial services institution in the Sultanate of Oman.

Pubali Bank also has the strong relationship with Development Finance Institutions such as Asian Development Bank (ADB), International Finance Corporation (IFC) and other development organizations of several counties including UK & USA.