Dhaka, Bangladesh (BBN)- Prime Bank Limited (PBL) has successfully concluded a BDT 150 million syndicated loan agreement as lead arranger with two other private commercial banks for Configure Engineering and Construction Company Limited (CECCL) for setting up a five-star hotel in Cox’s Bazar.

The two other banks are the Pubali Bank Limited and the Mutual Trust Bank Limited.

A signing ceremony was held at a local hotel on Thursday where the managing directors and chief executives of the participating banks and the sponsors of the project were present.

Managing Director of Prime Bank Limited M Ehsanul Haque, Managing Director of Pubali Bank Limited Helal Ahmed Chowdhury, Deputy Managing Director of Mutual Trust Bank Limited Quamrul Islam Chowdhury, Chairman of CECCL Habibur Rahman and Managing Director of CECCL Khurshid Alam Opu signed the agreement on behalf of their respective organisations.

The PBL, a leading private commercial bank, has been working in the syndication market by successfully concluding the first syndication deal as lead arranger since 1999 and now the bank is a dominant player in the area.

Keeping their role as pathfinder in syndication market the PBL has established a strong position in banking arena as lead arranger and agent by arranging a good number of deals through raising fund for large as well as medium size industries, the bank said.

BBN/SI/SS/AD-14N0vember08-3:49 PM (BST)