Three banks to issue Tk1,600cr bonds
Stocks
The Bangladesh Securities and Exchange Commission (BSEC) has allowed three banks to issue subordinated bonds worth Tk1,600 crore to meet their tier-2 capital base.
The banks are One Bank, Brac Bank, and Dutch Bangla Bank.
One Bank will issue bonds worth Tk400 crore, Brac Bank Tk700 crore, and Dutch Bangla Bank Tk500 crore.
The bonds will be unsecured, non-convertible, fully redeemable, and will have a floating interest rate.
They will be issued among institutional investors and high-net-worth individuals through private placement at a face value of Tk10 lakh per unit in the case of One Bank and Brac Bank, and Tk1 crore in the case of Dutch Bangla Bank.
Green Delta Capital Limited will be the trustee of the bond for One Bank, and UCB Investment Ltd will be an arranger. UCB Investment Ltd will also be the trustee of the bond for Brac Bank, and Brac EPL Investment Ltd will be an arranger. The Sena Kalyan Insurance Company Ltd will be the trustee of the bond for Dutch Bangla Bank, and Prime Bank Investment Ltd will be an arranger.
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.