2024-04-04 15:47:16
Bangladesh Securities and Exchange Commission (BSEC) has approved the issuance of the first unsecured zero coupon bond of Bangladesh Export Import Company Limited (Beximco), a company listed in various sectors in the capital market. The company will issue these bonds for repayment of bank loans and development of Mayanagar project.
On Thursday (April 4), this information was revealed by Dhaka and Chittagong Stock Exchange (DSE-CSE).
This bond was approved in the 905th commission meeting of BSEC on March 31. The bond worth Tk 2,625 crore will be an unsecured, non-convertible and redeemable Beximco Fast Zero Coupon Bond. Its discount rate is 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 the money from the bond, Beximco will use it 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.