Dhaka, Thursday


09 December 2021


Business Insider Bangladesh
Rangdhonu Group

Tk 600cr bond of AB Bank gets BSEC nod

BI Report || BusinessInsider

Published: 20:24, 23 November 2021  
Tk 600cr bond of AB Bank gets BSEC nod

AB Bank logo

KSRM

The Bangladesh Securities and Exchange Commission (BSEC), has approved an AB Bank’s offer of Tk 600 crore worth of transferable, unsecured, non-cumulative, contingent-convertible perpetual bonds.

The approval was given at the 800th meeting of the stock market regulator on Tuesday, according to a press release issued by the BSEC.

The bond will be issued through a private placement of Tk 540 crore and a public offer of Tk 60 crore. The face value of the bond is Tk 1,000 per unit.

The coupon rate of the bond is 6 percent floor to 10 percent ceiling, which will be issued in favour of financial institutions, mutual funds, insurance companies, listed banks, trusts, organisations, autonomous institutions and other eligible investors and general investors.

This bond issue will strengthen AB Bank’s Additional Tier-1 capital base.

MTB Capital Limited will act as the trustee of the bond, Riverstone Capital Limited will act as the arranger and issue manager, and BMSL Investment Limited will act as the underwriter.

UCB
Nagad