Tk 500cr bond of Pubali Bank gets BSEC nod
BI Report || BusinessInsider
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The Bangladesh Securities and Exchange Commission (BSEC) has approved Pubali Bank’s offer of Tk 500 crore unsecured, contingent-convertible, fully paid-up, non-cumulative, Basel-III compliant, perpetual bonds.
The approval was given at the 802nd meeting of the stock market regulator on Tuesday, according to a BSEC press release.
The bond of Tk 450 crore will be issued through private placement and the remaining Tk 50 crore through public offer. The face value of the bond has been fixed at Tk 5,000 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, regional rural banks, trusts, organisations, autonomous institutions and other eligible investors and general investors.
This bond issue will strengthen the capital base of Pubali Bank Limited’s Additional Tier-1 capital.
Green Delta Capital Limited will act as the trustee of the bond. City Bank Capital Resources Limited and UCB Investment Limited are working as arrangers, issue managers and underwriters.