Bank Asia in Bank Muscat’s syndicated loan deal

Bank Asia recently signed an agreement over a syndicated unsecured term loan facility for $25 million arranged by Bank Muscat based in the Sultanate of Oman.

It is the first secured overnight financing rate (SOFR)-based syndication term loan facility in Bangladesh, said a press release.

The agreement will allow Bank Asia to avail a long-term funding to help exporters and importers access reliable and reasonable terms and conditions for trade finance alongside ensuring liquidity and stability to the system.

Md Arfan Ali, president and managing director of Bank Asia, and Ahmed Faqir Al Bulushi, chief banking officer of Bank Muscat, joined the virtual signing ceremony. Md Zia Arfin, senior executive vice-president and head of international division at Bank Asia, along with other senior officials of the two organisations were present.