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ICB to issue $300m bond in international market

Staff Correspondent
29 Sep 2021 11:05:17 | Update: 29 Sep 2021 11:26:04
ICB to issue $300m bond in international market

The Investment Corporation of Bangladesh (ICB) will raise $300 million by issuing a bond from the international market.

The government approved the ICB’s proposal, according to a notice issued by the Finance Division under the Finance Ministry last week.

The state-owned financial institution will utilise the fund to bolster its investment capacity, the tenure of the bond will be a five-year and its interest rate will not be more than 3.5 per cent.

However, the government tagged a condition that the ICB will have to make a fresh investment of at least 50 per cent of the raised fund.