The Bangladesh Securities and Exchange Commission on Tuesday allowed five banks to float bonds worth Tk 2,000 crore in total.
The capital market regulator gave the approval in a commission meeting presided over by its chairman Khondoker Rashed Maqsood on the day.
According to a press release issued by the commission, the BSEC approved Dhaka Bank PLC to issue聽subordinated bond worth Tk 400 crore.
The capital market regulator also approved Bank Asia PLC to issue聽subordinated bond worth Tk 400 crore, Islami Bank Bangladesh PLC to issue Mudaraba subordinated bond worth Tk 500 crore, Export Import Bank of Bangladesh PLC to issue聽subordinated bond worth Tk 250 crore and Trust Bank PLC to issue聽subordinated bond worth Tk 450 crore on condition of submitting trustee registration certificate.
All the bonds are unsecured, non-convertible, fully redeemable, subordinated bonds with floating rate.
The bonds will be issued through private placement to institutional investors and high-net-worth individual investors.
The face value per unit of Dhaka Bank鈥檚 bond is Tk 10 lakh and that of Bank Asia鈥檚 bond Tk 1 crore, while the face value per unit of Islami Bank Bangladesh鈥檚 bond, EXIM Bank鈥檚 bond and Trust Bank鈥檚 bond is Tk 5 lakh.
All the bonds will be listed on alternative trading board.