Staff Reporter :
The Bangladesh Securities and Exchange Commission (BSEC) has approved a Tk 400 crore non-convertible, redeemable, unsecured, floating rate bond for Pubali Bank PLC.
The decision was made at BSEC’s 931st commission meeting held yesterday, according to a statement signed by Mohammad Rezaul Karim, BSEC’s Executive Director and Spokesperson.
This bond, which will not be convertible, will mature at the end of its term and will carry no security backing.
The interest rate will be floating, with the coupon rate set by adding 3 percent to the reference interest rate.
The bond’s face value per unit will be Tk 10 lakh, and it will be offered to institutional investors and high-net-worth individuals via private placement.
Through this bond issuance, Pubali Bank PLC aims to strengthen its tier-2 capital base in line with Basel-3 requirements.
DBH Finance PLC will act as trustee for the bond, while UCB Investment Limited will serve as the arranger.
Additionally, the bond will be listed on the Stock Exchange’s Alternative Trading Board.