Tk 150cr bond approved for Paramount Textile

The Bangladesh Securities and Exchange Commission (BSEC) has approved the proposal of Paramount Textile to raise Tk 150 crore through a fully redeemable and non-convertible bond.

The approval came at a commission meeting, said the commission in a statement on Wednesday.

The fund will be raised through the private placement to expand its business and loan re-payment. The unit price of the preference share of the bond is Tk 10. The annual rate of the five-year tenure bond ranges from 7 to 8.5 per cent.