DFDL Bangladesh is pleased to announce its successful representation of Epic Group Holdings (Epic Group) in securing a landmark USD 100 million debt financing package from the International Finance Corporation (IFC).
This innovative financing package, which includes a USD 70 million sustainability-linked loan and a USD 30 million green loan with sustainability-linked features, marks a significant milestone for both Epic Group and the IFC. DFDL played a key role in the transaction and ensured a smooth and successful outcome. Their contributions included conducting comprehensive vendor due diligence, providing commentary and advice on the loan and guarantee agreements, and preparing the necessary corporate approvals, among other tasks.
The financing will support Epic Group’s expansion in Bangladesh and the construction of a new manufacturing facility in India. Furthermore, the funds will be used for green and sustainability projects, capital expenditure including expansion, technology upgrading, automation, improvements and process re-engineering, and improving compliance in terms of structural, civil, electrical and fire safety for their expansion in Bangladesh and other general corporate purposes.
Shahwar Nizam, Partner and Managing Director of DFDL Bangladesh, who led the DFDL team on this transaction, commented: ‘We are delighted to have advised Epic Group on this groundbreaking financing. This deal demonstrates Epic Group’s dedication to sustainability and its commitment to positive social impact within the communities it operates in. We are proud to have played a part in facilitating this important transaction’.
The deal was led by Partner Mahboob Aziz and supported by team members Senior Associate Abu Naser, Junior Associate Jameelah Raeesa Ahmed and Trainee Tarangga Haque
