Representatives of the participating banks for a syndicated loan of Tk 92 crore for ACME Specialised Pharmaceuticals, arranged by Standard Chartered Bank, pose for photographs at a ceremony in Dhaka recently. The other participants are AB Bank, Bank Alfalah, Commercial Bank of Ceylon, Dhaka Bank, Eastern Bank, Saudi-Bangladesh Industrial and Agricultural Investment Company, Southeast Bank and Standard Bank.

Standard Chartered Bank has arranged a syndicated term loan of Tk 92 crore for ACME Specialised Pharmaceuticals.

The loan will help finance the expansion of ACME's production to introduce new products in response to growing demand in the market.

The agreement was signed by the pharmaceutical and Standard Chartered (the lead arranger) and other financial institutions.

Participants include AB Bank, Bank Alfalah, Commercial Bank of Ceylon, Dhaka Bank, Eastern Bank, Saudi-Bangladesh Industrial and Agricultural Investment Company, Southeast Bank, and Standard Bank.

Mizanur Rahman Sinha, managing director of the pharmaceuticals company, thanked the financial institutions for coming forward and financing the expansion of the business.

“ACME Specialised Pharmaceuticals serves the group strategically as a world-class manufacturing facility, to meet growing demand for pharmaceutical products,” he said.

ACME is one of top five pharmaceutical companies in Bangladesh since 2000.

“Standard Chartered is delighted to be the mandated lead arranger and agent for ACME in this transaction,” said Abrar A Anwar, managing director and head of origination and client coverage of Standard Chartered.

Over the last 10 years, the syndicated loan market has grown significantly, in line with the industrial growth of the country.

The Daily Star/Bangladesh/ 8th May 2012