Brac Bank arranges Tk500 crore preference share facility for UMP
Brac Bank has arranged a Tk500 crore non-convertible, cumulative, fully redeemable preference share facility for United Mymensingh Power Limited, a subsidiary of United Group, marking the largest transaction of its kind in Bangladesh's history.
The transaction was formally commemorated at a signing ceremony on 13 May 2026 at Crowne Plaza Dhaka Airport. Brac Bank served as lead arranger and agent, with City Bank PLC and Uttara Bank PLC also participating.
Structured over a five-year tenure, the facility is designed to align the long-term interests of both the issuer and investors. Proceeds will support United Group's forthcoming development and expansion initiatives.
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United Group Chairman and Managing Director Moinuddin Hasan Rashid stated, "Strong local banking collaboration and innovative financial solutions are essential for mitigating global economic shocks and sustaining Bangladesh's industrial growth through trusted domestic partnerships."
Brac Bank Managing Director and CEO Tareq Refat Ullah Khan commented, "This landmark transaction reflects the growing maturity of Bangladesh's capital market and Brac Bank's expertise in structuring large and complex financing solutions. We remain committed to supporting transformative projects through innovative financial instruments that drive sustainable economic growth."
Khan added that Brac Bank has strengthened its expertise in large-scale financing across sectors, including energy, infrastructure, and industrial development.
The event was also attended by Uttara Bank PLC Managing Director and CEO Md Abul Hashem, along with senior officials from each participating institution.
