IFIC board okays issuance of Tk 1,000cr bonds

The International Finance Investment and Commerce Bank Limited is all set to raise Tk 1,000 crore by issuing perpetual bonds, to strengthen its risk-based capital adequacy.

The bank’s board of directors held a special general meeting on Thursday and approved the proposal of issuing the perpetual bonds, read a press release.

According to the release, Tk 900 crore would be raised through private placement and Tk 100 crore through public offerings. Salman Fazlur Rahman MP, chairman of the bank, presided over the meeting.