Tk 170cr Citi syndication loans for Nasir Glassware

December 28, 2009

Citibank, NA, Dhaka branch on Sunday announced that it had successfully arranged syndicated facility of Tk 170 crore ($24.6m) to provide financing for Nasir Glassware and Tube Industries Limited, a sister concern of Nasir Group.
This five-year term loan facility will be utilised to finance the purchase of capital machinery and other long-term investments associated with the implementation of the project, said a news release.
Citibank, NA, Dhaka branch is the sole mandated lead arranger for the syndication. Other participants in the syndication are Agrani Bank, Eastern Bank, Janata Bank and Shahjalal Islami Bank.
This transaction marks the closure of another significant deal in 2009 for Citibank, NA Bangladesh where Citi is maintaining strong focus on the local corporate segment.
This deal adds to Citibank’s already established track record in the local corporate segment and essentially contributes further in deepening Citi’s footprint in this particular segment, the release said.

Source: NewAgebd

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