Bank Asia, Bank Muscat sign $25M syndicated term loan agreement
Bank Asia Ltd has recently signed an agreement for a Syndicated Unsecured Term Loan Facility for $25 million arranged by Bank Muscat of Oman.
It is the first SOFR-based Syndication Term Loan facility in Bangladesh, reads a press release.
The agreement will allow Bank Asia with long term funding to help exporters and importers to access reliable and reasonable terms and conditions for trade finance.
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It will also ensure liquidity and stability to the trade finance system.
Bank Asia President and Managing Director Md Arfan Ali and Bank Muscat Chief Banking Officer Ahmed Faqir Al Bulushi joined the signing ceremony held virtually.
Bank Asia SEVP and Head of Int'l Division Md Zia Arfin along with other senior officials of the two organisations also joined.
