Share Market listed IFIC Bank Limited will issue zero-coupon bonds. This information is known from DSE sources.

It is reported that this issue will be used to raise Tier 2 capital as per Basel 3 guidelines.

The size of the discussed bond will be Tk 600 crore. It will be irreversible. At the end of the term, the bond will be fully liquidated. The decision of the bond issue will be effective subject to the approval of Bangladesh Bank and BSEC.

The bank’s earlier decision to raise Tk 500 crore through a coupon-linked bond issue was withdrawn in yesterday’s board meeting.