Unique Meghnaghat Power signs deal for $463m foreign loans

Business Report :
Unique Meghnaghat Power Limited has signed an agreement with lenders for a foreign loan of $463 million for 15 years to meet its debt requirement.
Unique Meghnaghat Power Limited is a joint venture entity of Unique Hotel & Resorts PLC, Strategic Finance Limited, Nebras Power Investment Management BV and GE Capital Global Energy Investment BV.
Unique Meghnaghat Power Limited was established as a special purpose vehicle for the construction and operation of a 584-MW gas-based combined cycle power plant in Narayanganj on a build-own-operate basis for 22 years.
The project will be financed at a 75:25 debt-equity ratio where Unique Hotel & Resorts PLC has 37.24 per cent of economic interest, said Unique Hotel in a filing on the Dhaka Stock Exchange on Tuesday.