The regulatory body Bangladesh Securities and Exchange Commission (BSEC) has approved the bond issue of Dhaka Bank PLC, which is listed on the capital market. Dhaka Bank will strengthen its Tier-2 capital base by raising funds through the bond issue.

According to sources, the bond was approved in the 932nd BSEC commission meeting on November 19.

It is learned that Dhaka Bank’s Tk. 4 billion bond will be an unsecured, non-convertible, floating rate and liquidable 4th subordinated bond. The bond will be issued to institutional investors and high-net-worth individual investors through private placement.

The face value of each unit of this bond is Tk 1 million. Dhaka Bank will strengthen its Tier-2 capital base by raising funds through the bond issue.

DBH Finance PLC is acting as the trustee of the bond and BRAC EPL Investments Limited is acting as the arranger. The bond will be listed on the Alternative Trading Board.

This information was revealed by the Dhaka Stock Exchange (DSE).