Home ›› 13 Oct 2022 ›› Stock
The Bangladesh Securities and Exchange Commission (BSEC) has allowed Mutual Trust Bank Limited to issue a non-convertible bond worth Tk 500 crore.
The stock market regulator approved it during a commission meeting held at its headquarters in the capital on Wednesday with its Chairman Prof Shibli Rubayat Ul Islam in the chair.
As per the regulatory approval, the bank will float a fully redeemable, non-convertible, unsecured floating rate MTB 5th subordinated bond worth Tk 500 crore.
Eligible investors would have to buy the bond units through private placements. The face value of each unit of the bond would be Tk 1 crore.
The bank is going to issue the bond aiming to strengthen its capital base, meet its capital requirements under Tier-II, and invest to increase its loan portfolio.
The bond would be traded on an alternative trading board (ATB), as per regulatory approval.
UCB Investment Limited acts as the trustee for the bond, while RSA Advisory Limited is the mandated issue manager and arranger for it. The share of the bank closed at Tk 17 per share on Wednesday.
With a market capitalisation of Tk 1,510 crore, the bank has a paid-up capital base of Tk 893 crore and a surplus reserve of Tk 962 crore.
