TT&A advises IFC on $100 million loan to Meghna Re-Rolling and Steel Mills

TT&A advised the International Finance Corporation (IFC) on its proposed loan of up to $100 million to Meghna Re-Rolling and Steel Mills Limited, a Bangladeshi company.

The transaction team consisted of Gautam Saha (Joint Managing Partner), Nikhil Bahl (Partner) and Maansi Mehta (Associate).

The proceeds of the Loan will be used, inter alia, towards setting up of Bangladesh’s first climate smart greenfield steel plant, with an annual melting capacity of 1.4 million metric tonnes and rolling capacity of 0.9 MMT in Bangladesh.

IFC is a member of the World Bank Group and focuses on private sector development in emerging markets. Its primary mission is to promote sustainable development by providing financing, advisory services, and asset management to private companies in developing countries.

The IFC invests in a wide range of sectors, including infrastructure, manufacturing, agribusiness, and financial services, aiming to create jobs, boost economic growth, and improve living standards. Beyond simply providing capital, the IFC also works with companies to improve their environmental and social performance, enhance corporate governance, and access new markets.

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