The Bangladesh Securities and Exchange Commission on Tuesday approved Pubali Bank鈥檚 proposal to issue subordinated bond worth Tk 400 crore.
The decision was made at the 931st commission meeting chaired by Khondoker Rashed Maqsood, chairman of the BSEC, according to a press release. This bond of Pubali Bank is an unsecured, non-convertible, fully redeemable, subordinated bond with floating rate.
The coupon rate for this bond will be reference rate+ 3 per cent coupon margin.
This bond will be issued through private placement to institutional investors and high-net-worth individual investors.
The face value per unit of this bond is Tk 10 lakh.
Through the issuance of this bond, Pubali Bank will strengthen its Tier-II capital base under BASEL III.
Trustee for this bond is DBH Finance PLC and UCB Investment Limited will serve as arranger.
The bond will be listed on alternative trading board.