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MTB ARRANGES TERM LOAN FACILITY OF USD 36 MILLION FROM IFC & FMO TO FINANCE BENGAL HOTELS AND RESORTS LIMITED (BHRL)

Mutual Trust Bank Limited (MTB) has successfully closed a landmark deal for BENGAL HOTELS AND RESORTS LIMITED (BHRL) which involves the International Finance Corporation (IFC) of The World Bank Group and FMO, the Dutch Government development financing organization, as financing partners. The signing ceremony of the Term Loan Facility Agreement of USD 36 Million among IFC, FMO and Bengal Hotels and Resorts Ltd. was held at a city hotel on Wednesday, September 27, 2017.

Under the syndication agreement, where Mutual Trust Bank Limited (MTB) is the Lead Arranger, IFC and FMO will jointly finance the construction and development project of a 350 room business hotel under the ‘Swissotel’ brand, located on the Tejgaon-Gulshan Link Road, Dhaka, of Bengal Hotels & Resorts Ltd., a concern of Bengal Group.

The event was attended by Patrick J. Leahy, Regional Industry Head, Manufacturing, Agribusiness and Services and Wendy Jo Werner, Country Manager (Bangladesh, Bhutan and Nepal) of IFC, Morshed Alam, MP, Chairman, Jashim Uddin, Vice Chairman, Humayun Kabir (Bablu), Director of Bengal Group of Industries, M. A. Rouf, JP, Chairman, Anis A. Khan, Managing Director & CEO, Md. Hashem Chowdhury, Additional Managing Director, Syed Rafiqul Haq, Deputy Managing Director & Chief Business Officer (CBO) of Mutual Trust Bank Limited (MTB) along with other senior officials from the organizations involved in the transaction.

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