The subscription for ‘Beximco 1st Unsecured Zero Coupon Bond’ will commence on April 28 and continue until May 15.
The Bangladesh Securities and Exchange Commission on April 3 allowed BEXIMCO to issue the bond totaling Tk 1,500 crore, according to a press release.
IFIC Investment Limited is the arranger and Sandhani Life is the trustee of this bond.
The Beximco 1st Unsecured Zero Coupon Bond offers a discounted rate of 15 per cent.
This non-convertible, redeemable, unsecured bond aims to raise Tk 1,500 crore, of which Tk 1000 crore will be used for providing as a loan to Sreepur Township Limited for the development of the Mayanagar project, while the remaining Tk 500 crore will be used to repay existing bank loans of Beximco Ltd.
The bond subscription has a minimum investment threshold of Tk 50,000, with no upper limit.
