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Mutual Trust Bank Limited (MTB) has successfully closed a USD 55 million 1-year Dual Tranche Syndicated Financing Facility which was arranged by Mashreq, the leading financial services provider in the GCC, Europe, USA, Asia and Africa.
The loan has been extended to support the international trade finance of MTB. The facility was subscribed by 7 lenders spread over GCC, Africa and Europe including The Islamic Corporation for the Development of the Private Sector (“ICD”), the private sector wing of Islamic Development Bank Group, Habib Bank (UK & Belgium), Bank Muscat, Doha Bank and Caixa Bank.
The Closing ceremony was held at MTB’s Head Office where the MD and CEO of the Bank, Syed Mahbubur Rahman with his Senior Management team and the Chief Country Representative of Mashreq Bank, Kazi Ziaul Islam with his team were present. Tafsir Ahmed, the Unit Head of Syndications was present as a representative of ICD. Also, Mustafa Aziz Ata, the Global Head of FI & NBFI was virtually present along with all the representatives of the partner banks. He was ecstatic by the turnout of this arrangement and expressed his eagerness to further explore this and more products with MTB.
Syed Mahbubur Rahman, Managing Director & CEO expressed his appreciation on the closure of the Dual Tranche Syndicated Financing Facility and said, “We are extremely happy to see the overwhelming response from global banks to Mutual Trust Bank’s Dual Tranche Syndicated Financing Facility and thank Mashreq for being the lead mandated arranger along with all the partners.”