Home ›› 24 Mar 2022 ›› Stock
A perpetual bond of Pubali Bank is set to hit the trading floors on the Dhaka Stock Exchange (DSE) on Thursday (today).
Its trading code is PBLPBOND and DSE company code is 26010, the listed bank said in a news filing with the DSE on Wednesday.
Pubali Bank in December last year received the go-ahead from the securities regulator to raise Tk 500 crore through the perpetual bond.
The bank is supposed to spend the proceeds to strengthen its additional tier-1 capital base which fulfills the BASEL-III complaint, it said.
The characteristic of the bond is transferable, unsecured, non-cumulative, and contingent-convertible perpetual.
Of the total figure, Tk 450 crore was raised through private placement and the reaming Tk 50 crore through an initial public offering in compliance with the commission’s public offer rules.
A six per cent base rate for the bond will enable investors to gain a ceiling 10 per cent secured annual return.
