Bangladesh Securities and Exchange Commission (BSEC) has approved the issuance of the bond of Islami Bank Bangladesh, Shahjalal Islami Bank, and LankaBangla Finance Limited worth Tk 1,600 crore.
Islami Bank’s bond costs Tk 800 crore floating rate, non-cumulative BASEL three complaint perpetual bond.
According to the commission’s statement, Tk 720 crore will be raised through private placement and Tk 80 crore through an initial public offering in compliance with the commission’s public offer rules.
Shahjalal Islami Bank’s unsecured non-cumulative perpetual bond worth Tk 500 crore.
The per-unit cost price is set to Tk 5,000 for general investors and Tk 5 crore for private placement holders.
According to the commission’s statement, Tk 450 crore will be raised through private placement and Tk 50 crore through an initial public offering in compliance with the commission’s public offer rules.
LankaBangla Finance Limited’s non-convertible zero-coupon bond worth Tk 300 crore while total issue price is 265.33 crore.
The NBFI will issue the bond to financing in corporate and SME sectors. The per-unit price has been fixed at Tk 53,06,743 for private placement holders.
The purpose of the issuance of these bonds is to strengthen the capital base of additional Tier-1 of the companies. Various Financial institutions like insurance companies, corporate bodies, asset management companies, mutual funds and high net-worth individuals are allowed to purchase these companies’ bonds through private placements.
Source: Business Post
