Dhaka, Bangladesh (BBN) – The country’s leading mobile phone operator –Grameenphone Limited –has decided to receive a local syndicated term loan maximum worth BDT 11.025 billion, a company announcement said on Thursday.

“The Company has informed that the Board of Directors of the Company has approved a Local Syndicated Term Loan up to BDT 11,025.00 million to be drawn as per the requirements of the Company to optimize its capital structure and to finance its strategic initiatives and projects,” the Dhaka stock exchange (DSE) said.

“The process of syndicated loan will be started shortly to arrange the fund from local sources,” a senior banker told BBN, adding that such loan may push the local money market in short term liquidity pressure.

BBN/SSR/AD-15Sept11-12:05 pm (BST)