Epyllion Style Limited Availed A Dollar Loan
 
Epyllion Style Limited Availed A Dollar Loan  
   

Background of the Dollar Loan:

In the wake of the recent financial crisis (North Atlantic crisis), the emerging economies like Bangladesh have become a darling point for foreign lenders as the return on capital in a developing economy is higher than in a developed country. So the foreign banks, foreign financial institutions, multilateral and development institutes like IFC, IDB, ADB, DEG, FOM are rushing to developing countries to invest their unused funds. Moreover, the recent upward trend of interest rate in our local market in the event of acute liquidity crises ultimately encouraged the private entrepreneurs to think about the FC loans.

Epyllion Style Limited Availed A Dollar Loan:

It is an immense pleasure to inform you that Bangladesh Bank has approved a dollar term loan for USD 3.79 million of Epyllion Styles Ltd., availed from Eastern Bank Ltd. Upon capping the limit from a foreign fund availed by EBL from one of the world’s giant German Investment company DEG, ESL has got the approval of the loan for purchasing the imported machineries for BMRE (Beatifications, Modernization, Renovation & Expansion). The approval came 6th Feb’13, Wednesday at the 73rd meeting of the board of investment scrutiny committee of the central bank, presided over by BB governor Atiur Rahman.

Epyllion started to avail short term & mid-term dollar loan since 2010. But this is the first ever dollar term loan for 5 years tenor (1 yr moratorium & 4 operating yrs)  availed by EPG. This loan has become very suitable for us not only for interest rate differential but also we are to pay off the loan through tagging our export. The Cost of the dollar loan is only 6 months LIBOR plus 4.15% (whereas the local currency loan's cost is 15.5% to 17.00% per annum) which has given us a huge competitive edge before setting up a new business unit.”
 

 

 

 

 

 

 

 

 
 

 
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