BSEC approves AFC Agro Biotech’s Tk100 crore bond
Stocks
18 February, 2020, 07:55 pm
Last modified: 18 February, 2020, 07:56 pm
Face value of the bond units will be Tk10 lakh each
Photo: Collected
The Bangladesh Securities and Exchange Commission (BSEC) has accorded nod to AFC Agro Biotech Ltd for issuing a non convertible zero-coupon bond worth Tk100 crore.
After its 719th commission meeting on Tuesday, the securities regulator said the five-year bond will be privately placed to various institutional and qualified investors.
The listed company will repay some of its bank loans from the money collected through the bond. A portion of the proceeds will be used as the company's working capital as well.
Face value of the bond units will be Tk10 lakh each.
CAPM Advisory will be the trustee of the bond.
The fully redeemable, unsecured bond will not be listed in the stock exchanges.
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