Standard Chartered Bank has arranged BDT1.60 Billion Non-Convertible Redeemable Cumulative Preference Share For Raj Lanka Power Company Limited, a subsidiary of LTL Holdings Ltd of Sri Lanka. The company owns and operates a 53MW Heavy Fuel Oil (HFO) fired IPP power plant in Natore. This is the first Preference Share transaction arranged by Standard Chartered Bank, Bangladesh. The facility is aimed to re-finance the company’s existing Preference Shares to reduce overall cost. There was a diverse mix of investments in the transaction from Banks, Non Banking Financial Institutions and Corporates, which testifies to Standard Chartered Bank’s strong relationship with investors from all segments and issuer’s strong business fundamentals and reputation.
The closing ceremony took place in the city recently, which was attended by U D Jayawardanat, CEO of LTL Holdings Limited, M J M N Marikkar, managing director of Raj Lanka Power Company Ltd, and Abrar A. Anwar, chief executive officer of Standard Chartered Bank, Bangladesh. Also present were Enamul Haque, head of Commercial Banking, Alamgir Morshed, head of Financial Markets and Md Maroof ur Rahman Mazumder, head of Capital Markets, all of Standard Chartered Bank, Bangladesh. Speaking on the occasion U D Jayawardanat, CEO of LTL Holding Limited thanked Standard Chartered Bank for facilitating the transaction, which will help the company to expand their business in Bangladesh. Abrar A. Anwar, chief executive officer of Standard Chartered Bank Bangladesh, said, “We are delighted to be the Mandated Lead Arranger for this Landmark transaction. As a committed partner in progress of the nation, we strive to bring in innovative products to the market. I would like to thank the investors, regulators and other stakeholders for the trust they continue to place on us, which has helped us develop and lead the debt capital market in Bangladesh.”