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BEXIMCO Receives Approval for Tk 2,625 Crore Zero Coupon Bond

Industry: Pharma, Stock Market
Company: Bangladesh Export Import Company Ltd. (BEXIMCO)
Company Intelligence Tag: Business Insights

The Bangladesh Securities and Exchange Commission, in its 905th meeting chaired approved Bangladesh Export Import Company (BEXIMCO) Limited’s proposal to issue a zero coupon bond worth Tk 2,625 crore, as per a press release. BEXIMCO’s bond, which is a unsecured, non-convertible, and redeemable, will be issued through private placement to institutional investors and high-net-worth individuals, offering a 15% discount. Each unit of the bond has a face value of Tk 50,000. The funds raised from this issuance will be utilized to repay bank loans and provide loans to developers for the development of the real estate project Mayanagar in Sreepur Township, according to the release. Shandhani Life Insurance Company Limited will act as the trustee for this bond, while IFIC Investment Limited will serve as the arranger.

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