DBBL to issue Tk 5,000mn subordinated bond

The Bangladesh Securities and Exchange Commission (BSEC) has approved a floating rate non-convertible subordinated bond of 5,000 million taka only under private placement in favour of Dutch Bangla Bank Ltd (DBBL).

The Dhaka Stock Exchange (DSE) confirmed the information on its website Thursday.

The stock market regulator gave the approval as per provisions of the Securities and Exchange Commission (Private Placement of Debt Securities) Rules, 2012.

The purpose of the bond is to increase the Tier-2 capital to meet the capital requirement under Basel-III and to strengthen the regulatory capital base of DBBL.