The New Nation - Internet Edition

The signing ceremony of the facility agreement for a syndicated term loan of Tk 273.32 million favouring R.A.K. Pharmaceuticals Pvt Ltd., under lead arrangement of Dutch-Bangla Bank Ltd., was held on Deptember 11, 2007 at its Head Office. Dutch-Bangla Bank Ltd., Pubali Bank Limited and Standard Bank Limited particpated in the Syndicated Financing.The project will be set up at an estimated cost of Tk. 546.64 million with Debt-Equity ratio of 50:50.

Managing Director of Dutch-Bangla Bank Limited, Managing Director of R. A. K. Pharmaceuticals Pvt Ltd., Managing Director of Standard Bank Ltd., and General Manager of Pubali Bank Ltd. signed the document on behalf of the respective institution. Additional Managing Director of Dutch Bangla Bank Limited, Sponsor Shareholders and CEO of R. A K. Pharmaceuticals Pvt Ltd. were present in the signing ceremony.

Senior executives of arranger bank, participating bank and R. A K. Pharmaceuticals Pvt Ltd. were also present in the signing ceremony.

With the syndicated facility, the project, in its first phase, will produce tablet, capsule, liquids, dry syrup, topical, sachet and injectable products, phases of various therapeutic groups including cardiac, psychotropic, neurological, ophthalmic and gastrointestinal categories and some GTC products. The project will bring in state-of-the-art technology. Production process would be housed in a custom-built factory building strictly in compliance with WHO delineated guideline of current Good Manufacturing Practices (cGMP). The Managing Director of Dutch-Bangla Bank Ltd., thanked the participating banks as well as R.

A. K. Pharmaceuticals Pvt Ltd. for their support in syndicating the loan for Tk.273.32 million.Mr. S.AK. Ekramuzzaman, Managing Director, R. A. K. Pharmaceuticals Pvt Ltd., thanked syndicate lenders and expressed his deepest gratitude for their support

Mosharraf Hossain, Managing Director, Standard Bank Ltd., M. Mustafizur Rahman, General Manager, Pubali Bank Ltd., A. H. M Zaker, Chief Executive Officer, R. A. K. Pharmaceuticals Pvt Ltd. also spoke on the occasion. The speakers highlighted various aspects of the project and wished its success.