United Commercial Bank Limited (UCBL) and Bangladesh Steel Re-Rolling Mills Limited (BSRM) signed a term sheet for arranging syndicate term loan yesterday.

The term sheet was inked for the BMRE project of the company amounting to Tk 2800 million at the UCBL head office. The UCBL will act as coordinator for raising the fund for this expansion, said a press release.

M. Shahjahan Bhuiyan, managing director of UCBL and M. Alihussain Akberali, managing director and chairman of BSRM Group signed the term sheet on behalf of their respective organisations.

M Shafiqul Alam and M Shahidul Islam, additional managing directors, Mamun Ur Rashid, Shahed Jalal Chowdhury and, Mirza Mahmud Rafiqur Rahman, deputy managing directors attended the ceremony.

ASM Arif, senior vice president and head of structured finance division of UCBL, Mahmood Kabir, head of investment wing of structured finance division of UCBL and relationship manager of the deal, Tapan K. Podder, financial consultant of BSRM Group, Shekhar Ranjan Kar, CFO of BSRM Group and other senior officials of both the companies were present.

News: Daily Sun/ Bangladesh/ 13-Oct-2011