TT&A, Farooq and Associates advise IFC on sanctioning $30 million to Popular Pharma

The International Finance Corporation is set to extend a loan aggregating up to $30.7 million to Popular Pharmaceuticals PLC, a company incorporated in Bangladesh.

TT&A advised IFC on this financing transaction.

The transaction team consisted of Gautam Saha (Managing Partner), Nikhil Bahl (Partner), Ankita Mandal (Managing Associate) and Manasvini Vyas (Associate).

TT&A had recently advised IFC on sanctioning loans for Bangladesh-based PRAN-RFL Group companies.

Farooq and Associates acted as Bangladesh Law counsel for IFC on this transaction.

The proceeds of the Loan will be utilised towards towards financing the working capital requirements of the Popular Pharma, primarily for the procurement of raw materials through imports.

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