Community Bank to issue subordinated bonds worth Tk3,000 million

Community Bank signed an agreement with City Bank Capital and Community Bank Investment on the issuance of subordinated bonds for an amount of Tk3,000 million.  

City Bank Capital becomes the lead arranger and Community Bank Investment is appointed as the co-arranger, reads a press release.

Under this agreement, subject to the regulatory approvals, Community Bank will raise Tk3,000 million through the issuance of Tier II eligible Subordinated Bond in partnership with City Bank Capital, as the lead arranger and Community Bank Investment Limited, as the co-arranger. 

This fund will be used to strengthen the capital base, as well as, support the future growth of the bank. 

In this context, a tripartite agreement was signed among Community Bank Bangladesh Limited, City Bank Capital Resources Limited and Community Bank Investment Limited on Thursday (June 23) at the Head Office of the bank.  

Masihul Huq Chowdhury, Managing Director and CEO of Community Bank Bangladesh Limited; Ershad Hossain, Managing Director and CEO of City Bank Capital Resources Limited; Mominul Haque, CFA, Managing Director and CEO of Community Bank Investment Limited signed the agreement on behalf of their respective organisations. 

SM Moinul Kabir, Deputy Managing Director of Community Bank and Senior Officials of respective organisations were present on the occasion.