One Bank gets BSEC nod to issue Tk400cr bond
The bond’s tenure will be seven years
The Bangladesh Securities and Exchange Commission (BSEC) has allowed One Bank Ltd to issue a Tk400 crore fully redeemable subordinated bond.
With the bond proceeds, the private sector commercial bank would strengthen its Tier-II capital base, BSEC said in a statement on Tuesday.
The bond will be an unsecured, non-convertible one with floating rates of interest to be paid to the investors. Its tenure will be seven years.
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The bond units, having a face value of Tk1 crore each, would be sold to local institutional investors and high-net-worth individuals through private placements.
However, BSEC made it mandatory that the bond be traded in the under-construction Alternative Trading Board of the bourses.
Sena Kalyan Insurance Company Ltd is the bond's trustee, while Standard Chartered Bank is its mandated lead arranger.
