Loans and borrowings include a long-term syndicated loan led by the International Finance Corporation (IFC) of USD 345 Million at 6-month-LIBOR + 3.5% interest rate. The full loan amount of USD 345 Million has been drawn down in multiple tranches, the repayment of which is in 10 installments. The first five installments have been repaid since October 2015 and current outstanding loan balance is USD 172.50 Million. The final installment is scheduled to be paid in April 2020. The syndicate members include IFC, DEG, FMO, Proparco, CDC and OFID. This financial liability has been recognized at amortised cost as per IAS/BAS 39 Financial Instruments: Recognition and Measurement. Current portion of loans and borrowings includes part of the above long-term syndicated loan falling due for repayment in next 12 months and as at 31 December 2017 there was no short-term bank loan (2016: BDT 2,688,200,000).
Rating Agency: Credit Rating Agency of Bangladesh Limited
Long Term Loan
Short Term Loan
The entity rating is valid up to 30 April 2019 and the loan ratings are valid up to limit expiry date of respective credit facilities or 30 April 2019 whichever is earlier.
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