Unique Meghnaghat Power Limited signs $463m foreign loan agreement
Unique Meghnaghat Power Limited, a subsidiary of Unique Hotel and Resorts Limited, has signed an agreement for a foreign loan of $463 million with lenders for a period of 15 years to meet the debt requirement of the project.
The company is also a joint venture entity of Unique Hotel & Resorts PLC, Strategic Finance Limited, Nebras Power Investment Management BV, and GE Capital Global Energy Investment.
Unique Meghnaghat Power Limited was established as a special purpose vehicle for the construction and operation of a 584MW gas-based combined cycle power plant at Sonargaon, Narayanganj on a Build Own Operate (BOO) basis for 22 years.
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The project will be financed at a 75:25 Debt-Equity ratio where Unique Hotel & Resorts PLC has 37.24% of economic interest.
The loan tenor of the total loan of $463 million will be 15 years which comes -- $270 million from Standard Chartered Bank, $110 million from Asian Infrastructure Investment Bank, $45 million from Deutsche Investitions- und Entwicklungsgesellschaft (DEG), and $38 million from OPEC Fund for International Development (OFID).
