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May 4, 2016
IDLC Signs agreement with Partnership for Cleaner Textile (PaCT) program of International Finance Corporation (IFC)
IDLC Finance Limited is persisting its venture to explore new sectors from where it can develop a sustainable stream for the organization. In this regard, IDLC has signed an agreement with Partnership for Cleaner Textile (PaCT) program of International Finance Corporation (IFC) with an aim to develop a concise action based business development strategy and a sustainable pipeline of clients, and gaining market recognition for its work in water & energy efficiency sector.
The signing ceremony was held through a workshop titled "Solar PV & LED Lighting", organized by the Textile Technology Business Center (TTBC) under the PaCT program of IFC on 4th May, 2016 at Hotel Westin, Dhaka. The signing was chaired by Mr. Arif Khan, Chief Executive Officer & Managing Director, IDLC Finance Limited and Ms. Wendy Werner, IFC Bangladesh Country Manager. Mr. Md. Siddiqur Rahman President of the BGMEA, Mr. Faruque Hassan, Senior Vice President, BGMEA, Mr. Siddique Zobair, Member (Energy Efficiency & Conservation) of SREDA and speakers from GE, Deloitte, IDLC, SREDA, BUET and other industry experts spoke during the event.
This engagement will result in developing a strategy paper on Sustainable Energy Financing (SEF), business development and building of a solid portfolio of Energy & Water Efficiency, strengthening IDLC`s position in the green industry. IDLC will provide financial solution to the PaCT partners for adopting resource efficiency technology across the industry thus enhancing its share towards sustainability.
October 12, 2015
Term Loan Facility Signing Agreement with SABINCO
IDLC Finance Limited (IDLC) recently signed a Term Loan Facility Agreement with Saudi-Bangladesh Industrial & Agricultural Investment Company Limited (SABINCO) for BDT 400.0 million to facilitate the growth of SME sector in Bangladesh. Selim R. F. Hussain, CEO & Managing Director of IDLC & Quazi Shairul Hassan, Managing Director of SABINCO signed the Agreement for their respective organization. H M Ziaul Hoque Khan, Deputy Managing Director, H S Tareq Ahmed, Head of Treasury of IDLC, Ahmed Ehsanul Karim, Deputy Managing Director of SABINCO and other officials of both organizations were present at the signing ceremony.
February 17, 2015
Naz Auto Bricks Mandates IDLC Finance for Arranging BDT 400 Million Syndicated Loan
Naz Auto Bricks Limited has mandated IDLC Finance Limited to raise a syndication fund of BDT 400 Million to establish an energy efficient tunnel kiln brick project in Rangpur. The project will be able to produce 3 crore bricks per year equivalent to six fixed chimney kiln. State-of-the art tunnel kiln technology ensures energy efficient process and almost zero emission of hazardous gases.

Government of Bangladesh as well as different foreign agency such as World Bank, ADB are encouraging establishment of modern brick kiln technology and closure of traditional labor intensive and contaminated technology. Soft credit line is also available from Bangladesh Bank as refinancing facility to implement such project.

Dr. Mizanur Rahman, Managing Director of Naz Auto Bricks Limited and Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited formalized the signing in an agreement signing ceremony. Senior officials of both the organizations were also present during the signing ceremony.
February 11, 2015
IDLC Investments Acts as an Issue Manager for Tosrifa Industries Limited's Initial Public Offering (IPO)
Bangladesh Securities and Exchange Commission (BSEC) has approved the Initial Public Offer (IPO) of Tosrifa Industries Limited in its 538th Commission Meeting held on February 10, 2015. The company will raise BDT 638,721,200 through issuance of 24,566,200 ordinary shares at an issue price of BDT 26 each including a premium of BDT 16 per share from the capital market of Bangladesh. IDLC Investments Limited is acting as manager to the issue of the IPO of Tosrifa Industries Limited.

Tosrifa Industries Limited is a 100% export oriented readymade knit garments manufacturing company. The company was incorporated on August 27, 2002. The company has knitting and sewing capacity through which it manufactures fabric from yarn and then produces readymade apparel. Its major products are ladies? and gents? knitwear i.e. polo shirt, T-shirt, tank top etc.

During 2013 and 2012 the company exported merchandize worth BDT 941.67 million and BDT 799.46 million respectively and made net profit worth BDT 85.89 million and BDT 80.43 million respectively. EPS of the company is BDT 2.49 for the year ended December 31, 2013 and Net Asset Value per share is BDT 34.41.

Tosrifa Industries Limited plans to setup a dyeing unit with the IPO Proceeds. The state of the art dyeing unit will have a capacity of 15MT per day. Total project cost is around BDT 1,400 million and out of this around BDT 610 million will be financed from IPO proceeds.
November 12, 2014
IDLC Finance Limited and The City Bank Limited sign syndication fund raising agreement of USD 12.69 million for Far East Spinning Industries Limited
Far East Spinning Industries Limited (FESIL) has recently mandated IDLC Finance Limited and The City Bank Limited as Joint Lead Arrangers for raising USD 12.69 million for setting up a compact cotton yarn spinning mill of 25,000 spindles with a production capacity of 14 MT per day at Hobiganj, Sylhet.

Asif Moyeen, Chairman of Far East Spinning Industries Limited, Selim R. F. Hussain, CEO & Managing Director of IDLC Finance Limited, and Sohail R.K. Hussain, CEO & Managing Director of The City Bank Limited signed the term sheet on behalf of their respective companies.

Upon signing the deal, Asif Moyeen explained the need for setting up a spinning yarn which will act as an essential step in strengthening the backward integration of the Group and contribute to reducing the country’s demand-supply gap of yarn. He also shared his plans of building the factory under Green Building concept due to its environmental consciousness.
September 17, 2014
Citi and IDLC sign Direct Debit Agreement
IDLC Finance Limited - the largest multi-product Financial Institution in Bangladesh has recently signed a Direct Debit Agreement with Citibank N.A. Bangladesh. Direct Debit will allow IDLC Finance Limited to pull funds from its customers in local currency in a timely fashion and will digitalize the entire Check Collection process. Using CitiDirect, Citibank’s award winning internet banking platform, IDLC will submit digital instructions to Citi for individual/bulk transaction request to IDLC’s Debtor’s Bank on the designated due dates to pull the Funds from the respective accounts.

Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited said, “We have a strong technology backbone and we will support and utilize the country’s EFT platform to the extent possible”.

Rashed Maqsood, Managing Director & Citi Country Officer for Citibank, N.A. Bangladesh stressed on the need for transforming Bangladesh’s payment and collection landscape into an electronic platform, which will enable efficient and secured processing of transactions.

Mr. Moinul Huq, Head of Treasury & Trade Solutions, Citibank, N.A. Bangladesh reiterated that Citi has been a frontrunner in the EFT arena where electronic-to-paper ratio is over 40% within 3 years of the launch of the platform by Bangladesh Bank, whereas the industry average is close to 5 % at present.

Senior officials from both the companies were present during this signing ceremony.
May 7, 2014
IDLC Investments to Act as Issue Manager for the IPO of Impress-Newtex Composite Textiles Limited
Impress-Newtex Composite Textiles Limited (INCTL) has recently signed an agreement with IDLC Investments Limited to raise capital through Initial Public Offering (IPO). IDLC Investments Limited will act as Manager to the Issue for the IPO.

INCTL is a flagship company of Impress Group, a reputed and diversified group of companies having over 30 years of experience in ready-made garments with a proven track record of identifying business opportunities in diversified sectors. The company, established in 1995, is mainly engaged in producing gray knit fabric, dyeing & finishing and export of finished fabrics to 100% export oriented knit garments industries.

Meer Sajed-ul-Basher, Group Chief Financial Officer, Impress-Newtex Composite Textiles Limited and Md. Moniruzzaman, Managing Director, IDLC Investments Limited signed the contract. Reaz Ahmed Khan, Chairman and Md. Akram Khan, Managing Director of INCTL, Selim R. F. Hussain, CEO & Managing Director of IDLC Finance, Rubayet-E-Ferdous, Chief Operating Officer, IDLC Investments and other high officials of Impress and IDLC were also present on the occasion.
April 26, 2014
IFC Supports IDLC Finance Limited to Expedite Access to Banking Services for Small Businesses in Bangladesh
Dhaka, Bangladesh, April 26, 2014 – IFC, a member of World Bank Group, will work with IDLC Finance Limited to promote access to banking services for small businesses by supporting the scaling up of the SME financing of the institution.
IFC will work with IDLC to implement internal capacity building programs for both process improvement and skill development of the frontline employees. The programs are expected to decrease the time required for loan disbursement and cost of loan sourcing, ensuring efficiency in operations and better internal coordination. The project will also assist IDLC in raising financial awareness of women entrepreneurs through workshop and training.
The two and a half year long project will support IDLC to disburse 10,000 loans worth $370 million to Small and Medium Enterprises (SME’s) and provide sales, credit and client relationship training.
“Being one of the market leaders in the SME financing space of Bangladesh, we are continuously striving to reach and also set global best standards in SME financing. Our 68% cumulative average growth rate in the SME portfolio over the last 4 years and the industry best NPL (Non-performing Loan) ratio is a testament of our efforts so far. We believe IFC is the right partner to help us scale up our SME financing operations even further” said Selim R.F. Hussain, Chief Executive Officer & Managing Director, IDLC Finance Limited.
In Bangladesh, IFC works with financial partners to help increase access to and improve affordability of finance for small enterprises, supports product standardization, new product development, risk management, business development and automation of operating procedures while promoting environmentally friendly financing.

“IFC is keen to see a robust SME sector, and this partnership will not only enhance skills of professionals specializing in small enterprises but also make the process of starting a small business easier,” said Kyle F. Kelhofer, IFC Country Manager for Bangladesh, Nepal, and Bhutan.
IFC’s advisory services focus on improving business operating environment in addition to a growing investment program in Bangladesh. IFC works with the government to design and implement programs to introduce business-friendly policies, laws and regulations, while strengthening the institutions that implement them.
April 24, 2014
IDLC Investments to Act as Lead Issue Manager of SM Knitwears
SM Knitwears Limited has recently signed an agreement with IDLC Investments Limited and Royal Green Capital Market Limited to raise capital through Initial Public Offering. IDLC Investments Limited will act as Lead Issue Manager and Royal Green Capital Market Limited will act as Co-Issue Manager in this regard.

SM Knitwears Limited, a flagship company of SM Group of Companies, was incorporated in 2001. The company is a manufacturer of 100% export oriented Ready Made Garments. The company’s factory is located at Shirirchala, Bhabanipur, Gazipur.

Syed A K Anwaruzzaman, Managing Director, SM Knitwears, Md. Moniruzzaman, Managing Director, IDLC Investments and Md. Shah Alam, Managing Director, Royal Green Capital Market Limited have signed the contract. Syed Mohammad, Director of SM Knitwears, Md. Ziaul Haque Khondker, Adviser of Royal Green, Selim R. F. Hussain, CEO & Managing Director of IDLC Finance, Rubayet-E-Ferdous, Chief Operating Officer, IDLC Investments and other high officials were also present on the occasion.
March 10, 2014
IDLC Investments inks IPO deal with Bengal Poly and Paper Sack Limited
Bengal Poly and Paper Sack Limited has recently signed an agreement with IDLC Investments Limited to raise capital through Initial Public Offering (IPO). IDLC Investments Limited will act as Manager to the Issue in this regard.

Bengal Poly and Paper Sack, a concern of Bengal Group of Industries, was incorporated in 2001. The company is a manufacturer of PP woven bags and kraft paper bags for the cement, food grain and poultry feed industries. The factory is located at Gazipur and has a production capacity of 59 million bags per year.

Jashim Uddin, Director, Bengal Poly & Md. Moniruzzaman, Managing Director, IDLC Investments has signed the contract. Humayun Kabir, Chairman of Bengal Poly, Hassan Shahid Sarwar FCA, CFO and Darul Awam Tuhin ACS, Company Secretary, Bengal Poly, Selim R.F. Hussain, CEO & Managing Director of IDLC Finance and Chairman of IDLC Investments, Rubayet-E-Ferdous, Chief Operating officer, IDLC Investments and other high officials of Bengal Group and IDLC were also present on the occasion.
March 9, 2014
IDLC signs MoU with CRAB
IDLC Finance Limited has recently signed an agreement with Credit Rating Agency of Bangladesh Ltd. (CRAB). Under the deal, CRAB will provide credit rating service to the SME clients of IDLC Finance Limited.

Selim R. F. Hussain, CEO & Managing Director of IDLC Finance Limited and Hamidul Huq, Managing Director of Credit Rating Agency of Bangladesh Ltd. (CRAB) has signed the contract on behalf of their respective organizations. Khalid Hossin, Vice President & Head of Business Development of CRAB, H. M. Ziaul Hoque Khan, Deputy Managing Director, IDLC Finance, Zahid Ibne Hai, General Manager & Head of SME Division, IDLC Finance, Asif Saad Bin Shams, General Manager & Head of Credit & Collection, IDLC Finance and other high officials of CRAB and IDLC were also present on the occasion.
March 2, 2014
IDLC Investments to Act as Issue Manager for the IPO of FMC Dockyard Limited
FMC Dockyard Limited has recently signed an agreement with IDLC Investments Limited to raise capital through Initial Public Offering (IPO). IDLC Investments Limited will act as Manager to the Issue in this regard.

FMC Dockyard Limited conducts business in the shipbuilding industry of Bangladesh. The factory is located at West Gomdandii, Boalkhali, Chittagong. The company is offering complete ship building, repair and refit service to local and international customers since 2009. At present the company is engaged in building of inland ships of various types and sizes, such as oil tanker, fishing trawler, container ship, barge, cruise vessel, tug boat, research vessel, survey vessel, pontoon, jetty, dredger, slipway, etc. Within a short span of time, the company has created a strong foothold in the shipbuilding industry and achieved trust of local and international customers.

Pankaj Datta, Executive Director (Corporate Affairs), FMC Dockyard Limited & Md. Moniruzzaman, Managing Director, IDLC Investments Limited has signed the contract. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance and Chairman of IDLC Investments, Rubayet-E-Ferdous, Chief Operating officer, IDLC Investments, K. M. Morshedul Alam, Executive Director (Admin) of FMC Group and other high officials of FMC and IDLC were also present on the occasion.
February 10, 2014
IDLC Finance and FMO Sign USD 20 Million Term Facility Agreement
IDLC Finance Limited, the largest multi-product Financial Institution in Bangladesh, has recently signed an agreement with Dutch Development Bank, FMO for a USD 20 million 5 year term loan loan. Under this agreement, FMO will provide IDLC Finance funds to invest in SME, Consumer & Corporate client segments to meet their longer term funding requirements. In addition, FMO will also help IDLC in developing and implementing a sustainable ‘Environmental and Social Management System (ESMS)’ structure.

“This is the first time in over 25 years of operating in Bangladesh that the FMO have extended term funding to a NBFI. This partnership is further recognition of how IDLC Finance has grown in the last four years and how highly the co is rated by overseas multi-lateral stakeholders. The loan will further diversify and strengthen our funding base and thereby enhance the co’s profitability” commented Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited.

“This transaction is a result of IDLC’s financial strength and a strong commitment by both management and shareholders to further improve Environmental and Social standards within the industry. FMO is honoured to support IDLC in its future growth and its ambition to Finance Happiness.”, said Roger Hennekens , Senior Investment Officer Financial Institutions – Asia of FMO.

Roger Hennekens, Senior Investment Officer, Financial Institutions – Asia of FMO and Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited signed the facility document on behalf of their respective organizations.
January 27, 2014
Karnafuly Ship Builders Limited mandates IDLC Finance Limited to arrange USD 105.00 Million to establish a Dry Dock project at Chittagong
Karnafuly Ship Builders Limited has recently mandated IDLC Finance Limited as Lead Arranger and Agent to arrange USD 105.00 million Term Loan Finance to set up a Dry Dock project at Badalpura, Anwara, Chittagong. This project is expected to cost USD 150.00 million (equivalent to BDT 12,000 million approx.).

There is one Dry-Dock facility in Bangladesh currently but at 20,000 tons, it is not large enough to meet local or international demand. Karnafuly Ship Builders Limited, a reputed local ship building company in operation since 1994, is planning to set up a much larger Dry Dock which will repair ocean going large sized vessels of more than 50,000 tons.

The project is expected to generate significant foreign currency earnings. the Company has already purchased 20 acres of land at the left bank of the river karnafuly at Badalpura Chittagong. Required regulatory approvals have been accorded for construction of Dry Dock and usage of the river front.

Engineer M. A. Rashid, Managing Director, Karnafuly Ship Builders Limited and Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited signed the Term Sheet on behalf of their respective organizations.
January 12, 2014
IDLC Finance Raises Tk. 39 crore Syndication Financing for Tradexcel Auto Bricks
IDLC Finance Limited has arranged a syndication loan facility of TK. 39 crore for Tradexcel Auto Bricks Limited to set up an energy efficient ‘Tunnel Kiln’ brick project in Gazipur. The project will generate 30 million bricks per annum.

The loan & security agreement was signed by Tradexcel Auto Bricks and IDLC Finance (the lead arranger) and other financial institutions on successful financial closure of the syndication at a local hotel recently.

The syndication lenders comprised of Trust Bank Ltd., IDLC Finance Ltd and Uttara Finance and Investments Ltd.

Traditional brick projects are the largest contributors of Green House Gas (GHG) in our country – accounting for 38% of Bangladesh’s air pollution or approx. 9.81 million ton of CO2 per year. The Bangladesh Government and Development / Multilateral Agencies strongly endorse the restructuring of the Bangladesh brick sector through the promotion of newer Energy Efficient Brick Kiln (EEKs) technologies.

“IDLC Finance as part of its ‘Green Financing’ initiatives is delighted to finance and arrange required funding for Tradexcel Auto bricks," said Selim R. F. Hussain, CEO & Managing Director of IDLC Finance.

Rezwan Rahman, Managing Director, Tradexcel Auto Bricks thanked the Financial Institutions for coming forward and financing the project, which will help to address the current demand-supply gap for quality bricks and also reduce existing GHG emissions in the country.
November 12, 2013
Panigram Resort Mandates IDLC Finance for Arranging BDT 502.62 Million Syndication Fund for establishing a 5-Star Boutique Eco Resort and Spa at Jessore
Panigram Resort Limited has recently mandated IDLC Finance Limited as the Lead Arranger and Agent for raising BDT 502.62 million Term Loan and Working Capital facility for setting up a socially and environmentally responsible boutique eco resort and spa in Jessore. The resort is located 70 km from Sundarbans Forest, a UNESCO World Heritage Site.

Panigram having 34 banglows will be designed to showcase Bangladeshi culture and will have a large number of activities that give guests a taste of Bangladeshi village life. Panigram will be one of the few resorts that have a spa and wellness center and the only resort whose unique spa treatments are based on the health and beauty traditions of the Indian subcontinent. Expatriates, NRBs, large multinational & local corporate houses and avid local/foreign travelers will be able to enjoy true 5 (five) star facilities that promises to make their stay memorable. The project will go into operation in the mid-2014 as expected by the sponsors.

Selim R.F. Hussain, Managing Director of IDLC Finance Limited and Kristin Kay Boekhoff, Managing Director of Panigram Resort Limited signed the term sheet on behalf of their respective companies. Both voiced the requirement of implementing the project in due time and appreciated the concept of the resort that will provide the visitors an authentic experience of what Bangladeshi culture has to offer.

The senior officials from Panigram and IDLC Finance were present in the Term Sheet signing ceremony.
September 17, 2013
IDLC Signs a MoU with Grameenphone on Vehicle Tracking System Services
IDLC Finance Limited has recently signed a Memorandum of Understanding (MoU) with Country’s Largest Telecom Operator Grameenphone Ltd. on Vehicle Tracking Systems.

Mr. Irteza A. Khan, Head of Consumer Division, IDLC Finance Limited and Mr. Ferdous Alam Khan, Head of Business Market, Grameenphone Limited signed the MoU on behalf of respective organizations. Senior Officials from both companies were also present during the MoU signing event.

In order to offer Value Added Services to its customers, IDLC Consumer Division always looks for effective initiatives. As a part of those initiatives, IDLC is now proud to be associated with Grameenphone Limited for offering the best possible VTS services in the country with attractive features. Under this partnership agreement, all customers & employees of IDLC Group will avail the VTS services from Grameenphone at a special price.
August 25, 2013
IDCOL and IDLC Sign MoU for Financing Solar Home System (SHS) Equipment Suppliers
A Memorandum of Understanding (MoU) was signed between Infrastructure Development Company Limited (IDCOL) and IDLC Finance Limited on 24 July 2013. Under this MoU, IDCOL will provide advisory services to IDLC for the latter to design and launch new financial products for the suppliers under IDCOL Solar Home System (SHS) Program.

IDCOL’s SHS Program is one of the largest and most successful renewable energy programs in the world with more than 2.3 million SHSs having been installed under the program. IDCOL has already covered 6% of the country’s entire population with SHS and also has plans to finance 4 million such systems by 2015. IDLC has pioneered both Leasing and Supplier Finance services in Bangladesh and is the largest multi-product Finance Co. in the country. IDLC will finance enterprises who supply equipments to the Participating Organizations (PO) of IDCOL’s Solar Home System (SHS) Program.

Selim RF Hussain, CEO & Managing Director, IDLC Finance Limited and Mahmood Malik, Executive Director and CEO, IDCOL signed the MoU on behalf of their respective organization. Other senior officials of the organizations are also seen in the picture.
July 24, 2013
IDLC and MetLife Alico Sign Credit Life Insurance for SME Customers
Leading financial institutions - IDLC Finance and MetLife Alico - have joined together on a brand new partnership with the launch of ‘Credit Life Insurance’ for IDLC SME Customers.

‘Credit Life Insurance’ is a life insurance coverage facility for small and medium sized business entrepreneurs, financed by IDLC Finance Limited. SME customers of IDLC Finance can enjoy the benefits of this service. With this partnership, MetLife Alico will provide insurance coverage against death of IDLC SME customers during the tenure of the loan. All existing and future SME customers of IDLC would be entitled to receive this unique insurance benefit. IDLC SME customers will also get privileged interest rate on loans having insurance facility.

Zahid Ibne Hai, General Manager & Head of SME of IDLC Finance Limited and Akhlaqur Rahman, Chief Operating Officer, Metlife Alico Bangladesh have signed the partnership on behalf of their respective companies. Selim R F Hussain, CEO & Managing Director, Ziaul Hoque Khan, Deputy Managing Director of IDLC Finance Limited, M. Nurul Islam, Regional Sr. Vice President - Head of South Asia, Syed Hammadul Karim, Deputy General Manager, Bangladesh of MetLife Alico and other senior officials from the concerned companies attended the Signing Ceremony.
June 16, 2013
IDLC Finance Limited and Tradexcel Auto Bricks Limited sign a syndication agreement to raise Tk. 39 crore
Tradexcel Auto Bricks Limited has mandated IDLC Finance Limited to arrange BDT 390.51 million term loan and working capital facility to set up an energy efficient ‘Tunnel Kiln’ brick project in Gazipur. The project will generate 30 million bricks per annum.

Traditional brick projects are the largest contributors of Green House Gas (GHG) in our country – accounting for 38% of Bangladesh’s air pollution or approx. 9.81 million ton of CO2 per year. A number of Development/Multilateral Agencies are heavily endorsing the restructuring of the Bangladesh brick sector by promoting several Energy Efficient Brick Kiln (EEKs) technologies. Once these projects are implemented, they will significantly address the current demand-supply gap for quality bricks and also reduce existing GHG emissions in the country.

Rezwan Rahman, Managing Director, Tradexcel Auto Bricks Limited and Selim R. F. Hussain, CEO & Managing Director of IDLC Finance Limited recently formalized the arrangement at an agreement Signing Ceremony on behalf of their respective companies. Senior officials from both the institutions were also present at the Ceremony.
May 26, 2013
IDLC Acts as Lead Arranger and Agent for the implementation of Le Meridien Dhaka - a new 5 star hotel
IDLC Finance Limited has arranged a Syndicated Term Loan of BDT 5.60 billion for the implementation of a 5 star hotel under the brand name of Le Meridien Dhaka. The facility is aimed to finance the capital expenditures of the hotel project.

IDLC Finance Limited is assuming the role of Lead Arranger and Agent to the Facility. National Credit and Commerce Bank Limited, United Commercial Bank Limited and Trust Bank Limited have acted as co-arranger for the syndication. Total 7 Banks and 2 NBFIs have participated in this syndicaton; the participants include National Credit and Commerce Bank Limited, United Commercial Bank Limited, The City Bank Limted, Trust Bank, IDLC Finance Limited, Uttara Finance and Investments Limited, Jamuna Bank Limited, One Bank Limited and Standard Bank Limited.
April 1, 2013
IDLC signs MOU with Haq's Bay
IDLC Finance’s Consumer Division has recently signed a memorandum of understanding (MoU) with Haq’s Bay Automobiles Ltd. on April 01, 2013. Haq's Bay is a leading company in Bangladesh involved in imports, and local distribution business of automobiles. It has more than 40 years of proven track record in sales and distribution of nearly every Kind of brand new and reconditioned vehicles with quality after sales service. Under this agreement, customers of both parties will enjoy better pricing and services from both the companies. IDLC and Haq’s Bay will promote one another as strategic partners to their prospective clients and engage in cross-selling purposes. Mr. Irteza A. Khan, Head of IDLC Consumer Division, & Mr. Abdul Haque, Managing Director of Haq’s Bay, signed the agreement on behalf of their respective organizations. Senior Officials from both companies were present during the MoU signing event.
January 31, 2013
IDLC signed Financial Advisory Service Agreement with The Waste to Resource Fund Ltd. (W2RF)
Waste to Resource Fund (W2RF) has recently engaged IDLC Finance Limited (IDLC) to provide financial advisory services to design, evaluate, and monitor the investment process in their different projects which will be implemented in and outside Bangladesh. W2RF will finance solid waste management projects linked with Green House Gas (GHG) emissions reduction in Asia and Africa. The Board of W2RF includes representatives from Bill & Melinda Gates Foundation (BMGF), UNESCAP & Waste Concern. W2RF is investing approx USD 450,000 in the existing Clean Development Mechanism (CDM) based Project at Bulta, Dhaka named WWR Bio Fertilizer Bangladesh Ltd. IDLC’s involvement in these projects is aligned with the company’s sustainable business practice goals and falls under its overall CSR umbrella.

Selim R F Hussain, CEO & Managing Director of IDLC Finance Limited and Abu Hasnat Md. Maqsood Sinha, Director of W2RF have recently signed a Terms of Reference on behalf of their respective companies. Iftekhar Enayetullah, Managing Partner of Waste Concern Consultants, M. Jamal Uddin, Head of Corporate of IDLC Finance Limited, Mesbah Uddin Ahmed, Head of Structured Finance of IDLC Finance Limited, and other senior officials from the concerned companies attended the Signing Ceremony.
November 21, 2012
IDLC & IDCOL Arrange Syndicated Term Loan Facility for ECPV Chittagong Limited
ECPV Chittagong Limited (ECPVCL), a joint venture power project of Confidence and Energypac groups, is setting up a 108 MW HFO based power plant at Patiya, Chittagong on built, own and operate (BOO) basis under IPP arrangement for a 15 year term in Chittagong. Using Rolls Royce liquid fuel engines, the power plant is expected to go into commercial operation within July 2013. Total cost of the project is USD 93.00 million.

IDLC Finance Limited and Infrastructure Development Company Limited (IDCOL), the mandated arrangers, has raised BDT 2,280 million and USD 30 million as syndicated loan for the project, where 12 (twelve) bank and financial institutions participated in the syndication. The participating banks and financial institutions of the loan are IDLC Finance Limited, IDCOL, Bank Asia Limited, United Commercial Bank Limited, Bangladesh Commerce Bank Limited, One Bank Limited, The City Bank Limited, Standard Bank Limited, Uttara Finance and Investments Limited, United Leasing Company Limited, Islami Bank Bangladesh Limited, and Industrial Promotion and Development Company Limited (IPDC). A signing ceremony was arranged in a local hotel recently marking the closing of the financing.

Mr. Abul Kalam Azad, Secretary, Power Division, Ministry of Power, Energy and Mineral Resources attended the occasion as the Chief Guest, and Mr. Stefan Ekelund, Deputy Country Director, Asian Development Bank (ADB) was the Special Guest. Senior officials from the participating banks and financial institutions including Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Ltd., Mahmood Malik, Executive Director & CEO of IDCOL and Imran Karim Managing Director of ECPV Chittagong Ltd. attended the program.
November 14, 2012
IDLC Investments to Act as Issue Manager for the IPO of Energypac Confidence Power Venture
Energypac Confidence Power Venture Limited (ECPVL) recently signed an agreement with IDLC Investments Limited to raise capital through an Initial Public Offering (IPO). IDLC Investments Limited will act as “Manager to the Issue” in this regard.

Energypac Confidence Power Venture Limited (ECPVL) is a joint venture company of Energypac Power Generation Limited and Confidence Cement Limited. ECPVL has been operating an 11 MW power project at Habiganj, Bangladesh since 2009 and supplying electricity to the Rural Electrification Board. In this regard, ECPVL signed a Power Purchase Agreement with REB for a period of 15 (fifteen) years. ECPVL has also signed a contract with state-owned Power Development Board (PDB) to set up a 108 MW IPP plant at Chittagong for a period of 15 years. This power plant is expected to commence operation in 2013. The company is also expecting few other projects to be awarded to it in the upcoming months.

Selim R.F. Hussain, CEO & Managing Director of IDLC Finance and Chairman of IDLC Investments, said that his company rated the joint sponsors of ECPVL highly and looked forward to growing their business relationship further in the near future. “ECPVL as an organization aspires to be one of the leading power and infrastructure company in Bangladesh in next 5 years”, said Imran Karim, Managing Director of ECPVL.

Imran Karim, Managing Director of ECPVL & Md. Moniruzzaman, Managing Director of IDLC Investments Limited have signed the contract. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance and Chairman of IDLC Investments, Engr. Rezaul Karim, Chairman of Confidence Group, Engr. Rezwanul Kabir, Director of ECPVL, Mesbah Uddin Ahmed, Head of Structured Finance of IDLC finance Ltd and other high officials of both the organizations were also present on the occasion.
October 10, 2012
IDLC finances Musa Ibrahim’s “The Everest Academy”
The SME division of IDLC Finance Ltd. has recently financed “The Everest Academy – an adventure training institute initiated by Mr. Md. Musa Ibrahim, the first Everest conqueror from Bangladesh. The HoSME, Mr. Zahid Ibne Hai, handed over the disbursement cheque at his office to Mr. Musa in a modest ceremony. The Everest Academy is a concern of services like adventure training, summer school, fitness and other related activities. It foresees to gradually include in their service bucket Adventure Leadership Training, Adventure School for kids, Artificial Climbing Wall, Mobile Climbing Wall, Summer Camp, Basic Fitness Training, Bi-Cycle Riding Training, Library and Movie Theatre etc.
September 30, 2012
IDLC Signs MOA with Navana
IDLC Finance Limited, Bangladesh's largest non-banking financial institution and Navana Limited, the country's pioneering automobile company & exclusive Brand New Toyota distributor signed a Memorandum of Agreement (MOA) in Dhaka recently.

Under the MOA, IDLC will provide car loans with advantageous interest rates, flexible repayment plans and faster processing time to Navana customers. Navana will provide exclusive vehicle pricing and superior service packages to IDLC clients.

Mr. Irteza A. Khan, Head of Consumer Division of IDLC Finance and Md. Hamdur Rahaman Simon, Head of Sales and Marketing, Navana Limited, signed the MOA on behalf of their respective organizations. Mr. Shahood Mustansir, Head of Corporate Sales of Navana Limited and other senior officials of Navana and IDLC Finance also attended the signing ceremony.
September 2, 2012
IDLC Finance Limited and The City Bank Limited sign fund raising agreement of USD 46.50 million and BDT 5,000 million for BSRM Steel Mills Limited
BSRM Steel Mills Limited, a concern of the BSRM Group, has mandated IDLC Finance Limited and The City Bank Limited as joint arrangers to raise USD 46.50 million and BDT 5,000 million through a syndicated term loan facility. The funds will be used to set up a 8.6 lakh ton per annum steel melting and billet casting plant in Mirsarai, Chittagong and the arrangement will be the one of the largest-ever syndication deals in the Bangladesh steel sector.

Alihussain Akberali FCA, Chairman and Managing Director of BSRM Steel Mills Limited, Selim R. F. Hussain, CEO & Managing Director of IDLC Finance Limited, and Sohail R.K. Hussain, Additional Managing Director and Chief Business Officer of The City Bank Limited recently formalized the arrangement at an agreement signing ceremony on behalf of their respective companies. Senior officials from all three institutions were also present at the ceremony.

Upon signing the deal, Alihussain Akberali FCA thanked both IDLC Finance Limited and The City Bank Limited for their professionalism and responsiveness. He further explained the need for setting up the steel melting plant project which will be an import substitute product and act as an essential step in strengthening the backward integration of the Group while lessening foreign exchange pressure on the economy.

Selim R.F. Hussain and Sohail R.K. Hussain both appreciated BSRM’s decision to initiate this milestone project which will contribute significantly to the infrastructure development of the country. They also thanked Alihussain for entrusting their institutions in raising funds for this prestigious project and assured him of their best services for this purpose.
June 17, 2012
Best Holdings Limited Signs BDT 4.60 Billion Syndicated Fundraising Deal with IDLC Finance Limited to Setup 'Le Meridien Dhaka'
Best Holdings Limited (BHL), a Concern of Metro Group, has recently mandated IDLC Finance Limited, as the Lead Arranger to raise BDT 4.60 Billion/USD 55 Million for setting up a 300-room luxury hotel at Nikunjo along the Airport Road.

Amin Ahmad, Chairman & Managing Director of Best Holdings Limited and Selim R F Hussain, CEO & Managing Director of IDLC signed a term sheet for fund raising on behalf of their respective companies. Other senior officials from both companies also attended the Signing Ceremony.

Upon signing the deal, Amin Ahmad said “This new hotel, which will be operated by the world’s largest hotel company and one of the most recognizable hotel brands, will significantly upgrade business-class traveler comfort in Dhaka”.

Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited, said “IDLC is delighted to partner the Metro Group in this exciting project and also believes the hotel will provide a boost to economic activity in Dhaka city.”

The BHL owned hotel, currently under construction, is expected to go into commercial operation by July 2013 and will be operated by Starwood Hotels & Resorts Worldwide, Inc. under the “Le Méridien” brand.
June 5, 2012
IDLC signs MOU with Finlay Properties Limited
IDLC Finance Limited has recently signed an MOU with Finlay Properties Limited, with the objective of providing better customer service facilities in the housing and real estate sector. With this arrangement, IDLC will offer financing at flexible terms and condition to the clients of Finlay Properties Limited.

Mofakkharul Islam Khasru, Managing Director, Finlay Properties Limited, and Irteza A. Khan, Head of Consumer Division, IDLC Finance Limited, signed the MOU on behalf of their respective organizations. Md. Abdullah Naser, Head of Sales and Customer Management, and Md. Ali Karim, Head of Corporate Services, Finlay Properties Limited, and Bishakha Mazumdar, Senior Manager, and Md. Masudur Rahman, Manager, Consumer Division, IDLC Finance Limited, were also present in the event.
October 26, 2011
IDLC signs agreement with MetLife Alico Bangladesh for Insurance Coverage to Home Loan Customers
Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited and Syed Hammadul Karim, Sub-Regional COO of MetLife Alico, MEASA - East, recently signed an agreement on behalf of their respective companies to provide life insurance coverage to IDLC home loan customers. Under this arrangement, MetLife Alico Bangladesh, the largest life insurance company in the country, will assure payment of outstanding principal loan of IDLC’s home loan customers, in the event of the borrower’s death or permanent total disability, and thus protect their family members from the burden of loan repayment. IDLC is the largest multi-product non-bank financial institution in the country and one of the premier home loan providers to individual customers.

H.M. Ziaul H. Khan, CFO and Irteza A. Khan, Head of Personal Finance Division of IDLC, and Mahmud Alam, Corporate Solutions Manager and Muhammad Asif Shams, Sales Manager, Bancassurance and Direct Marketing of MetLife Alico Bangladesh, were also present in the signing ceremony among other senior officials of the two companies.
October 13, 2011
IDLC & IDCOL sign Fundraising Agreement of USD 45.00 Million for ECPV Chittagong Limited
ECPV Chittagong Limited (ECPVCL), a Joint Venture of the Confidence and Energypac Groups, has mandated IDLC Finance Limited and Infrastructure Development Company Limited (IDCOL) as joint arrangers to raise USD 45.00 million Term Loan facility in USD and BDT to set up a 108 MW HFO based power plant at Chittagong.

Mr. Imran Karim, Managing Director ECPVCL , Mr. Islam Sharif, Executive Director & CEO of IDCOL and Mr. Selim R F Hussain, CEO & Managing Director of IDLC; together signed an agreement for the fund arrangement on behalf of their respective companies. The Chairman of Confidence Cement, Mr. Rezaul Karim and Mr Rezwanul Kabeer, Director of Energypac Power Generation Ltd were also present to grace the occasion. Mr. M. Jamal Uddin, Head of Corporate, Mr. Mesbah Uddin Ahmed, Head of Structured Finance of IDLC, Mr. Nazmul Haque, Director & Head of Investment of IDCOL and other senior officials from the concerned companies also attended the Signing Ceremony.

With a project cost of USD 93.00 million (BDT 7,000 million approx.), the ECPVCL will be established at Patenga, Chittagong on Built, Own and Operate (BOO) basis for a term of 15 years. The power plant will use Rolls Royce liquid fuel engines and is expected to go into commercial operation by November 2012.
July 5, 2011
Energypac Power Generation Limited has signed an agreement for Initial Public Offering with IDLC Finance Limited
Energypac Power Generation Limited has recently signed an agreement with IDLC Finance Limited to raise capital through Initial Public Offering (IPO). IDLC Finance Limited will act as ‘Manager to the Issue’ in this regard.

Energypac Power Generation Limited is one of the leading companies in the power sector of Bangladesh. It has been operating as a major supplier of standby and base load electric generators and low voltage power distribution accessories for many years. Energypac successfully operates in multiple dimensions - as power engineer, management and generation company. It has strong presence in Engineering, Procurement & construction (EPC), Turnkey and IPP based power plants. Energypac is an ISO 9001:2008 Certified company with International Business standard work practices.

Mr. Humayun Rashid, CEO & Corporate Director, EPGL & Mr. Selim R.F. Hussain, CEO & Managing Director, IDLC, signed the contract on behalf of their respective companies. Energypac senior officials, Mr. Rabiul Alam, Managing Director, Mr. Enamul Haque Chowdhury, Executive Director, and Mr. Rezwanul Kabeer, Director, were present on the occasion and were accompanied by senior officials from both the companies.
June 27, 2011
IDLC signed Fundraising Agreement of USD 38.50 Million for Radisson BLU Hotel Cox’s Bazar.
Clewiston Foods & Accommodation Limited, a sister concern of Clewiston Group, has mandated IDLC Finance Limited to raise USD 38.50 million in foreign currency for setting up a 278 keys 5 star Hotel in the name of “Radisson BLU Hotel Cox’s Bazar” under a Development & Management contract with Carlson Hotels worldwide USA, the sponsoring group of Radisson Hotel Brand worldwide. Reliance Finance Limited will be the co-arranger for the project.

Mr. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited and M.A. Alim Chowdhury, Managing Director of Clewiston Foods & Accommodation Limited have recently signed letter of Mandate on behalf of their respective companies. Mr. Proshanta K. Halder, Managing Director of Reliance Finance Limited, Mr. M. Jamal Uddin, Head of Corporate of IDLC Finance Limited, Mr. Mesbah Uddin Ahmed, Head of Structured Finance of IDLC Finance Limited, and officials from the concerned companies had attended the Signing Ceremony.

With a project cost of USD 55 million (BDT 4,000 million) (approx.), the “Radisson BLU Hotel Cox’s Bazar” will be established on 2 acre land located at Cox’s Bazar Hotel Motel Zone (200 yards from the main sea beach). The hotel is expected to go into operation by 2014.
February 15, 2011
IDLC participates in “SME Financing Fair” at Chittagong
IDLC Finance Limited recently participated in the “SME Financing Fair” organized by SME Foundation (SMEF) in association with Bangladesh Bank (BB). This two-day event was held on February 15-16, 2011 at “The Engineers Institute Chittagong”. A number of Banks and Non Bank Financial Institutions including IDLC Finance Ltd took part in the fair.

During the launching ceremony, Governor of Bangladesh Bank, Dr. Atiur Rahman, handed over a loan sanction letter of BDT 2 mn to one of IDLC’s client Md. Faruk, proprietor of Abser & Brother.

A souvenir was also published in this occasion. A success story of a client of IDLC Finance Limited was published in the souvenir.
January 3, 2011
IDLC Finance & Farzana Shakil Makeover Salon Signs Loan Agreement
IDLC Finance Limited has recently extended a SME Women Entrepreneur Loan to Farzana Shakil Makeover Salon Ltd (FSMSL), the leading makeover salon of the country, for relocation of its exiting Dhanmondi Branch to a larger premise. The new premise is expected to come up with state-of-the-art beauty & health care facilities. In this regard, a documents signing ceremony took place at IDLC’s headquarter.

Selim R. F. Hussain, CEO and Managing Director of IDLC Finance Ltd and Ms. Farzana Shakil, Managing Director of FSMSL & the leading makeover artist of the country, signed the deal on behalf of their respective organizations. Mr. Shakil Kashem, Chairman of FSMSL, Zahid Ibne Hai, Head of SME, IDLC Finance Ltd and other senior executives were also present during the ceremony.
January 2, 2011
IDLC Signs USD 115 Million Fund raising Agreement with Summit Bibiyana
Summit Bibiyana-1 Power Company Limited and Summit Bibiyana-2 Power Company Limited have both recently signed up with IDLC Finance Limited for the latter to lead-arrange the raising of USD 115 mn through the Investment Promotion and Financing Facility (IPFF). The IPFF is a funding facility for Public Private Partnership (PPP) projects managed by Bangladesh Bank and sponsored by the Government of Bangladesh and the International Development Agency, World Bank. These two power plants will be located at Bibiyana in Sylhet Divison with a capacity of 341 MW each and, combined, represent the largest power generating projects in the private sector in Bangladesh till date. The total estimated project cost of USD 550 mn will be financed at a 70:30 Debt-Equity ratio and will be funded by a combination of funds from IPFF and other multilateral agencies - the IFC, ADB & IDCOL.

Ayesha Aziz Khan, Director of Summit Group, and Selim R.F. Hussain, CEO & Managing Director, IDLC Finance Limited signed the agreement on behalf of their respective companies. Mr. Muhammad Aziz Khan, Chairman of Summit Group, and other senior officials from Summit, GE and IDLC were also present during the signing ceremony.