Meghna Bank arranges investors’ meet and information memorandum launching event for Star Ceramics
Meghna Bank PLC has arranged an Investors' meet and Information Memorandum (IM) launching event for Star Ceramics Ltd, one of the leading tiles and sanitary ware manufacturers of the country.
The bank shall act as lead arranger, facility agent and transaction advisor for this deal, reads a press release.
Under this arrangement, Structured Finance Unit of the bank's Corporate Banking Division will raise an aggregate facility of Tk175cr from different banks and financial institutions. The facility shall contain both debt and quasi equity products like Preferential Share.
Star Ceramics Ltd, incorporated in 2010, located in Habiganj, Sylhet has one of the largest production facilities in country. At present the company produces 85 million square feet of tiles and over 450,000 pieces sanitary items round the year.
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Star Ceramics is one of the few manufacturing plants who use SACMI machinery throughout the production process to ensure best quality and durability of the products. The company is a sister concern of RAK Ceramics Bangladesh, another leading tiles manufacturer in country since 1998.
"The amount will be utilised for adding a new polishing line and heat cogeneration system that will enhance both revenue and reduce utility costs," said Qamar- Uz-Zaman, managing director, Star Ceramics Ltd.
Sohail R K Hussain, managing director & CEO, Meghna Bank inaugurated the event where representatives from different banks and financial institutions were present.
Kimiwa Saddat, deputy managing director, Meghna Bank Ltd, presented the pitch deck and various aspects relating to the deal and its attractiveness for the investors.
The event ended with an open question and answer session among the participants.
