Eastern Bank Ltd has arranged as syndicated term loan facility of Tk 980 million for HG Aviation Limited to purchase two 50-seat DASH 8 Q300 aircrafts.

An agreement ceremony to this effect was held recently at a city hotel, said a press release.

Managing directors, chief executive officers and top executives of the participating banks and HG Aviation Ltd were present on the occasion.

Led by Eastern Bank Ltd, the participating banks and financial institutes are Bangladesh Commerce Bank Ltd, Dhaka Bank Ltd, One Bank Ltd, Standard Bank Ltd, State Bank of India, United Commercial Bank Ltd, Industrial Promotion and Development Company of Bangladesh Ltd, Uttara Finance and Investments Ltd.

Ali Reza Iftekhar, MD and CEO of EBL congratulated HG Aviation for starting its successful operation and expressed his appreciation to all the partners for their wholehearted support towards achieving the financial close of this transaction.

News: Daily Sun / Bangladesh/ Feb-02-2011