The Bangladesh Securities and Exchange Commission (BSEC) on Wednesday approved two bonds in favour of NCC Bank and Standard Chartered Bank.
BSEC approved the bonds at a commission meeting held at the commission headquarters, read a press release.
Standard Chartered Bank
As per BSEC's approval, the bank will issue a zero coupon bond of Tk850 crore, and fulfill its ongoing financial requirement through this bond.
The nature of this bond is nonconvertible, fully redeemable and unsecured. The discount rate of this bond is four to five percent.
Bond units worth Tk10 lakh each will be offered to eligible investors through private placement. Green Delta Insurance and Standard Chartered Bank are the lead arrangers of this bond.
The bank will issue perpetual bonds of Tk500 crore, and the proceeds of the bonds will be regarded as Additional Tier 1 capital of the issuer that will help to fulfill their Basel III requirement.
The unsecured bonds will be non-convertible and perpetual in nature, and their units, worth Tk1 crore each, will be offered to eligible investors through private placement, according to a BSEC press release.
Investors will enjoy 9.50-12.50 percent interest as a coupon from the floating-rated bonds. The IDLC Finance Ltd and EC Securities Ltd is the lead arranger of the bond.