The City Bank Ltd organised a signing ceremony for a structured financing arrangement for Regent Energyand Power Limited, for raising a term loan of US$50.2 million and Tk 300 million and preference shares of Tk430 million for setting up a 108 MW gas fired Independent Power Plant at Ghorashal, Narsingdi, says a pressrelease.

The senior lenders are Infrastructure Development Company Limited (IDCOL) with a commitment of$ 30 million and International Finance Corporation (IFC) with a commitment of $ 20.2 million and BangladeshInfrastructure Financing Fund Limited (BIFFL) with Tk 300 million.

The preference share subscribers are City Bank Capital Resources Limited (CBCRL), Midland Bank Limited,NRB Commercial Bank Limited and United Leasing Company (City Bank has played the role of Arranger,Collateral Agent, Account Bank and BIFFL Facility Agent. Sohail R K Hussain, managing director of City Bank, Anita Marangoly George, director of Infrastructure andNatural Resources, IFC; Md Yasin Ali, managing director and Salman Habib Deputy managing director ofRegent Energy and Power Ltd, Kyle F Kelhofer, country manager, Bangladesh, Bhutan and Nepal, IFC;Mahmood Malik, executive director and chief executive officer of IDCOL, Md Atiquzzaman, executive directorand chief executive officer of BIFFL, Ershad Hossain, chief executive officer of CBCRL, A K M Shahidul Haque,managing director and chief executive officer of Midland Bank, Sheikh Mohammad Maroof,  deputy managingdirector of City Bank, and other senior officials from the leading financial institutions of the country were also present.