Syndication of Funds
There has been a surge in the number of syndication
deals closed in the last few years. 2004 was an
exceptionally good year for syndicated deals for the
local commercial banks also for the foreign banks.
The total number of syndications in 2004 exceeded
10 totaling over Tk. 10 billion. This rise in the
number of syndications can be primarily attributed
to the prudential lending guidelines of the Bangladesh
Bank. A commercial bank may provide funded facilities
up to a maximum of 25% of its equity. Due to this reason,
projects with sizeable costs need to approach more than
one bank for their debt requirements and therefore the
demand for syndications exist. Credit risk diversification
has led many international companies to introduce
credit derivatives that are actively being traded. Securitzation
of assets is one such credit risk derivative that allows financial
institutions to diversify their portfolios.
At Dhaka Bank Limited, the Syndications and Structured Finance
unit was setup on October 30, 2004. This unit successfully closed
two syndicated deals in the first and second quarters of 2004.
The Syndications and Structured Finance team as a business unit
soon followed up by closing another deal totaling Tk 2.10 billion
for a large local corporate. The year (2004) being the first full
year of operation for the team ended on a high note as we were able
to close three syndicated deals as the Lead Bank, two deals as the
Co-Arranger and several other deals as a participant.
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