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Runner Automobiles to raise Tk 267.5 crore

Industry: Automobile, Automotive, Car Trading & Showroom
Company: Runner Automobiles
Company Intelligence Tag: Business Insights

Runner Automobiles PLC has received approval from the Bangladesh Securities and Exchange Commission (BSEC) to raise funds amounting to Tk 267.5 crore. The company plans to secure the funds from institutional investors, corporations, and high-net-worth individuals. The approved bond has a tenure of seven years and is unsecured, redeemable, non-convertible, and guaranteed.

It will carry a coupon rate ranging from 8.5% to 9%. The funds raised through the bond issuance will be utilized by Runner Automobiles to provide credit facilities to its customers and to establish a solar plant. Each unit of the bond will have a face value of Tk 10 lakh, and DBH Finance PLC and Green Delta Capital will serve as the trustee and lead arranger of the bond, respectively.

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