The issuing of a Tk500 crore zero-coupon bond with a two-year maturity has been authorized by the board of directors of IDLC Finance Ltd. According to the corporate declaration posted on the Dhaka Stock Exchange (DSE) website on Tuesday, the bond’s type is unsecured and non-convertible.
The Bangladesh Bank and the Bangladesh Securities and Exchange Commission must now approve the bond issue before it can be made (BSEC).
A discount bond that is initially offered for less than its face value without receiving ongoing dividends or interest is known as a zero-coupon bond. The amount given to bondholders at maturity is known as face value.
In the first half of this year, IDLC Finance reported a consolidated net profit of Tk91.87 crore, 11 per cent less than in the same period last year. In its financial declaration, the non-bank financial institution stated that the reduction in net profit was brought on by a decline in investment income as well as income from commission, exchange, and brokerage.
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