AB, NRBC get nod to raise Tk 900cr through bonds

25 November 2021

Business Desk :
Bangladesh Securities and Exchange Commission (BSEC) on Tuesday approved bonds of AB Bank and NRB Commercial Bank worth Tk 600 crore and Tk 300 respectively.
The decision came in a commission meeting held in its head office in Dhaka chaired by BSEC chairman Prof Shibli Rubayat Ul Islam.
AB Bank would raise a fund of Tk 600 crore with issuing transferable, unsecured, non-cumulative, and contingent-convertible perpetual bond, according to a BSEC press release.
Of the Tk 600 crore, Tk 540 crore would be raised through private placement and the rest Tk 60 crore from public.
The face value of each bond is Tk 1,000. Its coupon rate is 6 to 10 per cent.
With the bond proceeds, the lender will strengthen its capital base.
Trustee of the bond is MTB Capital and its arranger and issue manager is Riverstone Capital, the BSEC said.

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