DBBL plans to raise Tk 1,200cr through bonds

Business Desk :
Dutch-Bangla Bank Limited (DBBL), one of the largest private banks by deposits, plans to raise Tk 1,200 crore through the private sale of subordinated bonds to boost capital.
The board of the bank has approved the plan, subject to approval from Bangladesh Bank and Bangladesh Securities and Exchange Commission, the bank said in a filing to the Dhaka Stock Exchange on Thursday. The bonds will mature in seven years.
The objective behind the issuance of the bonds is to increase capital under Basel-III rules and strengthen the capital base to comply with regulatory requirements, the lender said.
This tier is comprised of revaluation reserves, general provisions, subordinated term debt, and hybrid capital instruments, according to Investopedia.