Written by The Banking Post
Standard Chartered Bangladesh has executed a USD 29 million interest rate swap (IRS) for Renata PLC, one of Bangladesh’s leading pharmaceutical companies, to help manage interest rate volatility on its term loan.
The agreement was signed by Naser Ezaz Bijoy, CEO of Standard Chartered Bangladesh, and Syed S. Kaiser Kabir, Managing Director of Renata PLC, in a ceremony attended by senior officials from both organisations, including Faria Kabir, Head of Corporate Coverage, and Sabah Saleheen Azim, Head of Markets and Corporate Sales, from Standard Chartered, and Mustafa Alim Aolad, CFO of Renata.
The IRS enables Renata to convert its five-year floating-rate loan into a fixed-rate agreement, protecting the company from potential rate increases and allowing for predictable cash flows throughout the loan tenure.
“By executing this landmark IRS transaction with Renata, we are helping one of Bangladesh’s leading pharmaceutical companies manage volatility in a dynamic interest rate environment,” said Naser Ezaz Bijoy.
Syed S. Kaiser Kabir added, “This interest rate swap allows us to mitigate exposure to rate fluctuations while ensuring greater predictability in our cash flows. Such financial stability supports our investments in innovation, capacity expansion, and global growth.”
With over 120 years in Bangladesh, Standard Chartered is the only multinational universal bank in the country, providing customised financing and risk management solutions. Renata PLC is among the fastest-growing pharmaceutical firms in Bangladesh, operating in 43 countries and focusing on human pharmaceuticals and animal health products.
