Dhaka Bank declares 10pc coupon rate for its bond

Business Report :
The trustee of the Dhaka Bank Perpetual Bond declared the semi-annual coupon rate at 10% for the public portion for the February-July period.
The trustee also set 20 July as the record date for the entitlements of the bondholders.
In October last year, the bank received approval from the securities regulator to issue the bond worth Tk200 crore in a bid to strengthen the additional Tier-1 capital base of the private sector lender.
It raised Tk180 crore through private placements and the remaining Tk20 crore through a public offering.
Local merchant bank IDLC Investments Limited acted as the trustee of the bond, while another investment bank, UCB Investment Limited, was the issue manager, underwriter, and arranger.