Stock Exchange Info

BSEC allows MTB to float Tk 500cr bond

Bangladesh Securities and Exchange Commission(BSEC) on Tuesday allowed Mutual Trust Bank Limited to float non-convertible subordinated bond worth Tk 500 crore.

The capital market regulator gave the approval at a meeting presided over by its chairman M Khairul Hossain.As per the BSEC approval, the bank will float unsecured, unlisted non-convertible subordinated bond worth Tk 500 crore.

The face value of each unit of the bond will be Tk 1 crore and the bond will be fully redeemable in seven years.Only corporate bodies, corporate institutions and other eligible investors will be allowed to subscribe the bonds through private placement.The purpose of the issue is to strengthen the bank’s capital base and meet its capital requirement under Tier-II.

EBL Investment Limited acts as the trustee for the bond while RSA Advisory Limited is the mandated lead arranger for the bond.

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Information collect from Bangladesh Securities and Exchange Commission