Orion Pharma has accomplished the signing of an agreement with BHF-Bank of Germany to secure a loan of more than $34 million in order to part finance its acquisition of a new facility and equipment for the expansion of the current manufacturing capabilities of the company. The bank has approved the loan deal with an interest rate of LIBOR plus 2.15%. The US dollar LIBOR for one year now is almost 1.74%, and thus the aggregate interest rate will be below 4% for the borrower as against more than 10% for term loans in the Bangladeshi banking sector. BHF-Bank, on the other hand, will get management and commitment fees from Orion. Orions newly secured loan from the lender offers a refund period of five years as well as a grace period two years. The company will repay the loan in 10 equal and successive half-yearly installments. Though Orion signed the loan agreement on December 7, 2016, the company received approval from the Bangladesh Investment Development Authority only on March 1, 2017.