B Mirror Desk: The board of directors at Shahjalal Islami Bank, which is publicly traded, has made the decision to issue a bond called ‘SJIBPLC IV Subordinated Bond’. This bond will be privately placed to enhance Tier-2 capital in accordance with Basel-3.
This announcement has been made public by the Dhaka Stock Exchange (DSE).
The company’s board aims to raise Tk 6 billion through this bond issuance, which will proceed pending approval from the regulatory authority.
The bond, with a duration of 7 years, will feature characteristics such as being fully redeemable, unsecured, non-convertible, and having a floating interest rate.
