B Mirror Report: The Bangladesh Securities and Exchange Commission (BSEC) has granted approval to City Bank PLC to raise Tk 1,200 crore through a subordinated bond, according to a press release issued today. The decision was taken at the 907th Commission Meeting, chaired by BSEC Chairman Khondoker Rashed Maqsood.
City Bank PLC will issue the bond via private placement targeting institutional investors, banks, corporate bodies, individual investors, and mutual funds. The Commission has also instructed that the bond be listed on the Alternative Trading Board (ATB) to ensure liquidity and facilitate secondary market trading.
In addition, the BSEC approved extensions for bond issuances by Jamuna Bank PLC and Trust Bank PLC. Jamuna Bank’s Tk 800 crore Non-Convertible, Unsecured, Fully Redeemable, Floating Rate Subordinated Bond now has a new issuance deadline of September 30, 2026, with all original terms remaining unchanged.
Similarly, Trust Bank’s Tk 500 crore Unsecured, Non-Convertible, Redeemable, Floating Rate Subordinated Bond VIII has been extended to September 30, 2026, maintaining all previously approved conditions.
The approvals are aimed at strengthening the banks’ capital base while ensuring compliance with regulatory and market requirements.
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