Banglalink to raise USD280 million syndicated loan to expand network

30 Apr 2007

Bangladeshi mobile operator Sheba Telecom (Banglalink) has agreed a USDS280 million loan from foreign lenders in order to expand its GSM network and develop its service portfolio, according to a company source. Standard Chartered Bank (SCB) and KFW of Germany will provide the credit as the lead arrangers, through syndication with other international commercial banks and financial institution. Banglalink has placed the loan proposal to the Board of Investment (BoI) for its approval. The company expects the loan to fund network expansion across ‘almost the entire country’, and to enable it to upgrade and improve its services. The cellco, which is owned by Egypt’s Orascom Telecom, has already invested more than USD300 million in network expansion.

Bangladesh, Banglalink,

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