The Bangladesh Securities and Exchange Commission (BSEC) has approved bonds worth Tk 600 crore for listed capital banks One Bank Limited and Mutual Trust Bank Limited. The 631st meeting of the commission held today approved the bonds of the two banks. This information has been known from BSEC sources.
It is learned that the regulator has approved One Bank Limited’s offer of Tk 400 crore for unsecured, non-convertible, Basel-3 compliant, perpetual bonds. These bonds are characterized by unsecured, non-convertible, floating rate, perpetual bonds with a coupon rate of 11% -14%.
The Perpetual Bond will be issued through private placement to government financial institutions, mutual funds, insurance companies, listed banks, co-operative banks, regional rural banks, organizations, trusts, autonomous corporations and other eligible investors. Note that this bond issue will strengthen the Additional Tier-1 Capital Base of One Bank Limited by raising funds from various institutions. The value of each unit of this bond is 10 lakh rupees.
EBL Investment Limited and City Capital Resources Limited are acting as trustees and lead arrangers of these bonds respectively.
Besides, the regulator has approved Mutual Trust Bank Limited’s proposal for unsecured, non-convertible, Basel-3 compliant, perpetual bonds worth Tk 400 crore.
These bonds are characterized by unsecured, non-convertible, floating rate, perpetual bonds with a coupon rate of 11% -14%. The Perpetual Bond will be issued through private placement to government financial institutions, mutual funds, insurance companies, listed banks, co-operative banks, regional rural banks, organizations, trusts, autonomous corporations and other eligible investors. It is to be noted that the additional Tier-1 capital base of Mutual Trust Bank Limited will be strengthened by raising funds from various institutions through this bond issue.
