2024-03-07 13:22:46
The regulatory body Bangladesh Securities Exchange Commission (BSEC) has approved the issuance of Tk 55 crore bonds of MK Footwear PLC, a company listed on the SME platform of the capital market.
The bond was approved in the 902nd commission meeting held on Thursday (March 7) under the chairmanship of BSEC Chairman Prof. Shibli Rubaiyat-ul-Islam.
BSEC executive director and spokesperson Mohammad Rezaul Karim signed this information in a press release.
As mentioned in the notification, the coupon rate of the company’s bonds will be determined by adding another 2 percent margin rate along with Bangladesh Bank’s smart method of interest rate determination. The coupon range will be from 9 to 11.50 percent.
The bond will be issued through private placement to institutional investors and high net worth individual investors. The face value of each unit of this bond is Tk 10 lakh. The proceeds raised through the bond issue will be used to meet MK Footwear’s buyer compliance and working capital requirements.
Community Bank Investment Limited is acting as the bond trustee and Alpha Capital Management Limited is acting as the arranger. Besides, the bond will be listed on the Alternative Trading Board.