Business Report :
Standard Chartered Bangladesh has completed a landmark USD 29 million interest rate swap transaction with Renata PLC. The tailored structure offers the pharmaceutical firm greater cost certainty on its five-year term loan and supports its long-term growth strategy by mitigating interest rate risks.
The signing ceremony was attended by senior representatives from both organisations. Naser Ezaz Bijoy, Chief Executive Officer of Standard Chartered Bangladesh, and Syed S. Kaiser Kabir, Managing Director of Renata PLC, signed the agreement on behalf of their respective institutions, says to a press release.
Under the arrangement, Renata’s floating-rate liability will be converted into a fixed-rate payment agreement with Standard Chartered. This will protect the company from potential increases in floating interest rates during the loan tenure, ensuring financial stability and enabling Renata to plan its operations with greater confidence.
Commenting on the transaction, Naser Ezaz Bijoy said: “We are committed to innovative financial solutions that strengthen our clients’ resilience and growth.
This transaction reflects our expertise in delivering tailored risk management.”
Syed S. Kaiser Kabir, Managing Director of Renata PLC, added: “Cost-effective, reliable financing is vital to our growth. This agreement lets us manage rate risks and ensures predictable operations as we expand.”
Standard Chartered is currently the only multinational universal bank operating in Bangladesh, with a legacy of more than 120 years in the market. Renata PLC, one of the leading pharmaceutical companies in the country, has a growing portfolio of health products and operates across 43 countries worldwide.
