B Mirror Report: The Bangladesh Securities and Exchange Commission (BSEC) has approved a proposal by Akij Food and Beverage Limited to issue an unsecured, non-convertible, and fully redeemable zero-coupon bond worth Tk 500 crore.

The approval was granted at the commission’s 1004th meeting held today at its headquarters in the capital, chaired by BSEC Chairman Khondoker Rashed Maqsood.

According to the decision, the bond will have a tenure ranging from six months to five years. Each unit will carry a face value of Tk 10 lakh, bringing the total issue size to Tk 500 crore.

The bond will be issued through private placement, with participation restricted to eligible investors such as banks, non-bank financial institutions, insurance companies, institutional investors, and high-net-worth individuals.

For the issuance, Sena Insurance PLC has been appointed as the trustee, while North Star Investments (BD) Limited will act as the fund arranger.

BSEC Director and Spokesperson Md. Abul Kalam confirmed the approval in a press release, stating that the move aligns with the regulator’s efforts to facilitate capital market development while ensuring compliance.