Summit Meghnaghat Power Company Limited, a subsidiary of Summit Power International, has fully repaid its long-term loans worth $190 million to an international lender consortium by October 15.
The project was financed by leading international development finance institutions 鈥� Standard Chartered Bank (UK), DEG (Germany), FMO (Netherlands), OFID (Austria) and CDC (UK) 鈥� together with Bangladesh鈥檚 Infrastructure Development Company Limited.
The amount was equivalent to Tk 2,318 crore, considering $1 equals to Tk 122.
The company maintained this repayment schedule without any delays since the plant started operations in 2015.
The loans, with interest rates between 7.28 per cent and 7.58 per cent, were originally structured with LIBOR-based rates before transitioning to SOFR.
Summit constructed the 335 MW Meghnaghat power plant in 2015, deliberately choosing international financing over local borrowing.
This strategy secured lower interest costs and longer repayment terms for the project. The company continues to work with global financiers like the International Finance Corporation and Asian Development Bank.
