Bank Asia Ltd with the help of nine other banks has arranged a Tk 84 crore syndicated term loan facility for GBB Power Ltd, says a press release.
The fund will be used for setting up a 20-MW power plant in Bogra with an estimated project cost of Tk 120 crore.
An agreement to this effect was signed recently between the banks and the power generating company.
Bank Asia was the lead arranger and Trust Bank Ltd co-arranger in the syndication, while other participating banks were Uttara Bank Ltd, IFIC Bank Ltd, United Commercial Bank Ltd, Dhaka Bank Ltd, NCC Bank Ltd, Premier Bank Ltd, Mutual Trust Bank Ltd and Bangladesh Commerce Bank Ltd.
Syed Anisul Huq, president and managing director of Bank Asia, Iqbal U Ahmed, managing director of Trust Bank Ltd, and senior officials of GBB Power and the banks signed the deal on behalf of their sides.