Agrani Bank reschedules Beximco Groups’ loan payback time

Agrani Bank has rescheduled Beximco Group’s loans of BDT 775 crore. The loans must be repaid at an interest rate of 12.5 per cent in 12 years and six months, which is longer than what the other banks have offered, but the grace period for repayment will be only three months from the date of activation of the rescheduled package. The Group will also have to make a token down-payment to Agrani, which would be 25 per cent of the required down-payment for the loans. It will also have to deposit BDT 1,000 crore as additional collateral for rescheduling the loans. Beximco was founded in the 1970’s and has operations and investments across a wide range of industries including textiles, energy, etc.