BRAC Bank has successfully arranged a BDT 500 crore non-convertible, cumulative, fully redeemable preference share facility for United Mymensingh Power Limited, a concern of United Group, marking the largest redeemable preference share transaction in Bangladesh’s history, a press release said.
The transaction was formally celebrated at a signing ceremony held on May 13, 2026, at Crowne Plaza Dhaka Airport. BRAC Bank acted as the Lead Arranger and Agent for the transaction, with participation from The City Bank PLC and Uttara Bank PLC.
Structured over a five-year tenure, the facility has been designed to align the long-term interests of both the issuer and participating investors. The proceeds will support United Group’s upcoming development and expansion initiatives.
Speaking at the event, Moinuddin Hasan Rashid, Chairman & Managing Director of United Group, said: “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.”
Tareq Refat Ullah Khan, Managing Director & CEO of BRAC Bank, said: “This landmark transaction reflects the growing maturity of Bangladesh’s capital market and BRAC Bank’s capability in structuring large and complex financing solutions. We remain committed to supporting transformative projects through innovative financial instruments that enable sustainable economic growth.”
He added that BRAC Bank has steadily strengthened its expertise in large-scale financing across sectors including energy, infrastructure, and industrial development.
The event was also attended by Md. Abul Hashem, Managing Director & CEO of Uttara Bank PLC, along with senior officials from the participating institutions.
