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MIDLAND BANK LIMITED AND INFRASTRUCTURE DEVELOPMENT COMPANY LIMITED SUCCESSSFULLY RAISED SYNDICATED TERM LOAN OF BDT 598 MILLION FOR KUSHIYARA AUTO BRICKS LIMITED

The financial closing ceremony of loan syndication amounting to BDT 598.0 Million to finance the debt portion for setting up a modern environment friendly auto brick manufacturing plant named ‘Kushiyara Auto Bricks Limited’ (KABL), was held at Hotel Sarina, Dhaka on 12th April 2018. Midland Bank Limited (MDB) and Infrastructure Development Company Limited (IDCOL) were the joint Lead Arrangers for this transaction.

Participants in this loan syndication were IDCOL, Midland Bank and Union Capital Limited (UCL). Bangladesh Bank is considering this project under ‘Financing Brick Kiln Energy Improvement Project’ which is funded by Asian Development Bank (ADB).

KABL will be using ‘Automated Tunnel Kiln’ (ATK) technology with a production capacity of 180,000 pieces of bricks per day. The project will be located at Beani Bazar of Sylhet. Mr. M Motiur Rahman, Managing Director of KABL, Mr. Md. Ahsan-uz Zaman, Managing Director & CEO of MDB, Mr. Nazmul Haque, Director (Investment) & Head of Advisory, IDCOL, Mr. Mahmudul Alam, Managing Director & CEO of UCL, Mr. Rathin Kumar Paul, Deputy General Manager, Sustainable Finance Department, Bangladesh Bank, Mr. Tika R. Limbu, Unit Head, Project Administration Unit, ADB, Mr. Zhou Yong Xu, Managing Director, Huanggang Huayao Zhongyang Kiln Company Ltd. Mr. Mohammad Masoom, Additional Managing Director, MDB, Mr. Md. Zahid Hossain, SEVP & Head of Corporate Banking Division, MDB, Mr. Nazmul Alam, Asian Development Bank and Mr. Mohammed Zahidul Haque, Head of IEEF, IDCOL were present on the occasion.

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