Southeast Bank, listed on the stock market, is going to issue subordinated bonds worth Tk 500 crore. Through this bond, the bank will collect Tk 500 crore from the market.
This information has been revealed by Dhaka Stock Exchange sources.
According to the source, the bond will have a term of 7 years. It will be a fully redeemable bond, which means that the bond will be completely liquidated at the end of its term. In addition, the bond will be non-convertible, meaning that no part of it will be converted into shares. The bond will be coupon-bearing, meaning that the interest due to the bondholder will be paid at regular intervals. Its interest rate will be floating and the bond will be allocated through private placement.
