2024-04-01 02:47:08
The capital market regulator Bangladesh Securities and Exchange Commission (BSEC) has approved the bond of Tk.
This approval was given in the 905th commission meeting held on Sunday (March 31) under the chairmanship of BSEC Chairman Professor Shibli Rubaiyat-ul-Islam.
This information was given in a press release signed by BSEC executive director and spokesperson Mohammad Rezaul Karim after the commission meeting.
The circular mentions that the face value of the bonds will be Tk 2,625 crore. The bond in question will be the unsecured, non-convertible and redeemable Beximco Fast Zero Coupon Bond. It has a discount rate of 15 percent, which will be issued through private placement to institutional investors and high net worth individual investors.
The issue price per lot of the bond is 50 thousand rupees. By withdrawing money from the bond, Beximco will provide loans to the developer to repay the bank loan and develop the Mayanagar project.
Thanthi Life Insurance is acting as the trustee of the bond and IFIC Investments Limited will act as the arranger.