MTB’s Tk 500 crore bond gets go-ahead

Business Desk :
Mutual Trust Bank is going to issue a fully redeemable, non-convertible and unsecured floating rate subordinated bond worth Tk 500 crore.
The Bangladesh Securities and Exchange Commission (BSEC) gave the approval on Wednesday in a meeting presided over by its Chairman Prof Shibli-Rubayat-Ul Islam.
The bond would be issued among financial institutions, insurance companies, corporates, and eligible investors through private placement.
With the bond proceeds, the lender will strengthen its Tier-II capital base, increase its loan portfolio to corporates and invest in treasury securities. Each unit price of the bond is Tk one crore.