City Bank completes subscription of non-convertible unsercured floating rate Tier-Ii Bond worth Tk7 Billion
City Bank recently successfully completed the subscription of the bank's 4th Subordinated Bond worth Tk7 billion, where City Bank Capital Resources Ltd and IDLC Investments Ltd were the lead arranger and trustee of the issue respectively.
The issue has enhanced Tier-II capital of City Bank following "Guideline of Risk Based Capital Adequacy" of Bangladesh Bank. Therefore, it ultimately increased issuer's Capital to Risk-weighted Asset Ratio (CRAR).
Agrani Bank Ltd, Janata Bank Ltd, Sonali Bank Ltd, Mercantile Bank Ltd, National Life Insurance Company Ltd and Shimanto Bank Ltd are the subscribers of the bond.
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Mashrur Arefin, Managing Director & CEO of the bank expressed sincere gratitude to all the subscribers and stakeholders who were involved with this issuance process.
