UCB gets BSEC nod to issue Tk300cr bond
The Bangladesh Securities and Exchange Commission (BSEC) has approved United Commercial Bank's proposal to issue UCB 2nd perpetual bond worth Tk300 crore.
Out of Tk300 crore, the bank will issue Tk270 crore through private placement and Tk30 crore through public offering.
The commission approved the proposal in a meeting in its office premises on Monday (26 June), according to a press release.
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The private sector lender would strengthen its Tier-1 capital base with the collected money.
The coupon rate of the bond will be 6% to 10%.
Prime Bank Investment Ltd will act as the Trustee of the bond while UCB Investment will be an Arranger.
Also, Prime Finance Capital Management will act as the issue manager while Sonali Investment will be an underwriter of the bond.
The bond will also enlist with the Alternative Trading Board (ATB) of the stock exchanges.
