Home ›› 02 Jun 2022 ›› Stock
The Bangladesh Securities and Exchange Commission (BSEC) has approved the proposal of the IFIC Bank to raise Tk 500 crore from the stock market through bonds.
The commission approved the issuance of the non-convertibles, unsecured, fully redeemable, floating-rate subordinated bond for seven years in favour of IFIC Bank, said the regulator in a statement on Wednesday.
The bank will issue the bond to strengthen its Tier-2 capital base. The per-unit price has been fixed at Tk 1 core for private placement holders.
Financial institutions, insurance companies, corporate bodies, asset management companies, mutual funds, and high net-worth individuals through private placements can purchase the bond.
Sena Kalyan Insurance Company limited will act as the trustee of the bond while standard Chartered Bank will play the role of the Lead arranger of the bond.
