Telenor controlled Bangladeshi operator Grameenphone has secured a syndicated term loan of BDT8.46bn (US$104.2m) in order to finance its network expansion.
Standard Chartered Bank was mandated lead arranger and agent of the facility. The Infrastructure…
Telenor controlled Bangladeshi operator Grameenphone has secured a syndicated term loan of BDT8.46bn (US$104.2m) in order to finance its network expansion.
Standard Chartered Bank was mandated lead arranger and agent of the facility. The Infrastructure Development Company acted as co-arranger.
Lenders include Bank Asia, Bank Alfalah, Dhaka Bank, Eastern Bank, IFIC Bank, Infrastructure Development Company, Mutual Trust Bank, National Credit & Commerce Bank, Premier Bank, Pubali Bank, Saudi-Bangladesh Industrial and Agricultural Investment Company (SABINCO), Shahjalal Islami Bank, Southeast Bank, Standard Chartered Bank and Trust Bank, according to a statement issused by the MLA.
“Standard Chartered Bank is delighted to be the mandated lead arranger and agent for this landmark transaction,” said Jim McCabe, CEO of Standard Chartered Bank Bangladesh. “This is the first ever unsecured term loan in the country, that too for the largest amount.”
Grameenphone is the largest mobile phone operator in Bangladesh with a market share of 42%. It is majority owned by Norwegian telco group Telenor.
