Standard Chartered executes USD 29m swap for Renata
Standard Chartered Bangladesh has completed a USD 29 million interest rate swap (IRS) for Renata PLC, a leading pharmaceutical company.
The customised structure will help Renata mitigate interest rate volatility on its five-year term loan, ensuring cost certainty and predictable cash flows.
The agreement was signed by Naser Ezaz Bijoy, Chief Executive Officer of Standard Chartered Bangladesh, and Syed S Kaiser Kabir, Managing Director of Renata PLC, in the presence of senior officials from both organisations.
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The IRS will convert Renata's floating-rate liability into a fixed-rate payment agreement with Standard Chartered, providing increased financial security by shielding the company from potential increases in floating rates during the loan's tenure, and ensuring Renata can plan its finances with greater confidence.
Commenting on the deal, Naser Ezaz Bijoy said:
"We are committed to innovative financial solutions that strengthen our clients' resilience and growth. This transaction reflects our expertise in delivering tailored risk management."
Syed S. Kaiser Kabir noted: "Cost-effective, reliable financing is vital to our growth. This agreement lets us manage rate risks and ensures predictable operations as we expand."
Standard Chartered is the only multinational universal bank in Bangladesh, with over 120 years in the market. Renata PLC operates in 43 countries and is a major pharmaceutical company with a growing portfolio of health products.
