Practice Areas - International Finance and Bank Credit Law Firms and Lawyers
Deal Date: | 28-01-2015 | Practice Area: | International Finance and Bank Credit |
Deal Title: | BHF-Bank Loan Agreement with Beximco Pharmaceuticals | Industry: | Pharmaceuticals & Biotechnology |
Description: |
Debevoise and Plimpton LLP advised Beximco Pharmaceuticals on a new loan agreement with BHF-Bank Aktiengesellschaft to borrow up to USD52 million. The loan will be covered by German export credit agency Euler Hermes and is the largest ECA financing in Bangladesh ever.
The loan will be used by Beximco to partially finance the purchase of new plant and machinery, and to expand its production facilities in Dhaka, Bangladesh. It is secured by the plant and machinery being purchased, and will be drawn down in four tranches against delivery and installation of the plant and machinery, commencing now and due for completion in June 2016, with commissioning to be completed by September 2016. The loan will attract interest at the rate of 2.25% per annum above LIBOR.
The Debevoise team advising Beximco was led by Frankfurt based international counsel Philipp von Holst, and included Frankfurt associate Klaudius Heda and London associate Patrick Moore.
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Financial Center: | Frankfurt | Value: | 0.00-100.00 |
Advised Party: | Borrower | Law Firm | Debevoise & Plimpton |
Borrower | Bangladesh | Lender | Bangladesh |
Classification: |
Syndicated and Bilateral Loans Bilateral Loans |
Lawyer | Philipp von Holst |