Renata to sign deal with IFC for $60 million loan

Leading local drugmaker Renata is going to sign an agreement with International Finance Corporation (IFC) to avail a foreign loan of $60 million.

The fund will be handed over to Renata as working capital and its tenure will be six years, according to a posting of the company on the website of the Dhaka Stock Exchange.

The drug manufacturer has recently received approval from its board of directors to go for the signing of the deal with the IFC, a member of the World Bank Group.

Renata's rose 4.53 percent to Tk 759.9 as of 1.50pm today.