Home ›› 02 Nov 2021 ›› Corporate
City Bank has recently arranged fund to help set up a heavy fuel oil (HFO) fired 162 MW capacity Power Plant of Doreen Group named Manikganj Power Generations Limited (MPGL).
Under the syndication arrangements, City Bank has arranged long term loan facilities totaling Tk 742 crore from Bank Asia Limited, Eastern Bank Limited and itself, City Bank said in a statement on Monday.
City Bank participated in the syndication with Tk 217 crore and provided credit guarantee of Tk 525 crore against which Bank Asia and Eastern Bank have financed their prat. The financial closure ceremony took place in Renaissance Dhaka Gulshan Hotel.
MPGL Managing Director Tahzeeb Alam Siddique MP, City Bank Managing Director & CEO Mashrur Arefin, Bank Asia President & Managing Director Arfan Ali, and Eastern Bank Deputy Managing Director and Head of Corporate Banking Ahmed Shaheen were present, among others, on the occasion.
