Loading...
The Financial Express

IPDC Finance and Premier Bank to raise funds through bonds

| Updated: November 21, 2022 13:32:07


IPDC Finance and Premier Bank to raise funds through bonds

IPDC Finance and Premier Bank will raise Tk 1.50 billion and Tk 6.0 billion respectively by issuing subordinate bonds to strengthen their capital base and facilitate future growth.

Bangladesh Securities and Exchange Commission (BSEC) on Thursday approved the proposals at a meeting at its office.

As per the regulatory condition, both the bonds will be listed with the bourses' alternative trading boards (ATBs).

The coupon rate of IPDC Finance's non-convertible and fully redeemable bond will range between 7.50 per cent and 10 per cent.

The company will issue the bonds to institutional investors and high-net-worth individuals through private placements.

The fund will be utilised to strengthen the company's Tier-II capital base.

The offer price of the bonds is Tk 10 million per unit. CAPM Advisory and Eastern Bank are working as the trustee and arranger of the IPDC Finance's bond.

As per the BSEC approval, Premier Bank will raise Tk 6.0 billion issuing subordinate bonds through private placements to strengthen its Tier-II capital base.

The coupon rate of the bond will be 7.0 per cent to 9.0 per cent and the offer price will be Tk 6.0 million per unit.

Delta Brac Housing Finance Corporation and UCB Investment are working as the trustee and lead arranger of the Premier Bank's subordinate bonds.

[email protected]

Share if you like

Filter By Topic