Dhaka Bank Limited arranged a syndication financing of Tk 680 million (as LC and Term Loan) for setting up a paper project in the name of Capital Board Mills Limited (CBML). Three (03) other Banks viz. Arab Bangladesh Bank Limited, Uttara Bank Limited and The Premier Bank Limited are the other syndicate partners.

CBML is a private limited company incorporated in April 2006. It is a sister concern of Capital Paper and Pulp Industries Limited, engaged in producing different types of papers, mainly news print for local market. Annual production capacity is 12,000 MT of different types of papers.

The factory of CBML will be set up at Shantapara, Ghorashal; besides their existing factory of Capital Paper. Yearly production capacity of the factory would be 30,000 M/T. Total cost of the project is estimated at Tk 570.00 million, which would be financed by 70:30 debt equity ratios. The product line of the project is: News Print, Duplex board, Liner paper, etc. The Client has booked two world- class paper machines, one from Italy, and another from Spain. As per the implementation schedule, the Company will able to go into trail operation from end of 2008.

The signing ceremony of the syndication deal was held at Hotel Pan Pacific Sonargaon on 19th April 2007. Mr. Shahed Noman, Managing Director, Dhaka Bank Limited, Mr Kaiser A. Chowdhury – President & the Managing Director of Arab Bangladesh Bank Limited, Mr. Shaikh Aminuddin Ahmed - the Consultant and Head of CRM of Uttara Bank Limited, Mr Nurul Alam Chowdhury, Additional Managing Director of the Premier Bank Limited signed the Facility / Security Agreement on behalf of their respective organizations.

The signing ceremony was conducted by Mr. Mesbah Uddin Ahmed, Assistant Vice President, Syndication and Structured Finance Unit of Dhaka Bank Limited. Senior officials of the lead bank and participating Banks and the Capital Board Mills were present in the ceremony.