Pubali Bank perpetual bond’s half-yearly coupon rate declared as 9.58%
Stocks
Pubali Bank Limited has announced a coupon rate of 9.58% for its perpetual bond traded on the Dhaka Stock Exchange (DSE) since 23 March and ending on 22 September.
On Wednesday, the bond's trustee published the information on the websites of both stock exchanges.
The record date for the bond's coupon entitlement has been set as 20 September, according to the disclosure.
This bond is an unsecured, contingent-convertible, fully paid-up, non-cumulative and Basel III compliant one that started trading at the stock exchanges on 24 March 2022.
In December last year, Pubali Bank secured regulatory approval to raise Tk500 crore by issuing the bond in order to strengthen its additional Tier-1 capital base with the money collected.
Local institutional investors and high-net-worth individuals bought the bond units through a private placement, whereas general investors bought its bond units in a public offering.
Some Tk450 crore has been raised through private placement and the remaining Tk50 crore with a public offering.
Local merchant bank, Green Delta Capital Limited, was the trustee of the bond while UCB Capital Limited and City Bank Capital Resources Limited were the arrangers, issue managers, and underwriters of the bond.
Comments
While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.