Two more banks get SEC’s permission to issue subordinate bonds

Dhaka, Bangladesh (BBN)- Two more private commercial banks got permission from the Securities and Exchange Commission (SEC) to issue subordinate bonds to raise their capital base.

The SEC gave Dhaka Bank Limited the consent to issue 2,000 fully redeemable non-redeemable non-convertible unsecured subordinated bonds worth BDT 2.0 billion.

The regulator also approved another proposal from the National Bank Limited for issuing 2,500 non-convertible subordinate bonds worth BDT 2.5 billion.

Both the banks will issue the bonds of Taka 1.0 million each through private placement, a Dhaka Stock Exchange (DSE) announcement said on Monday.

Earlier, at least two other private commercial banks also availed the similar permission from the regulator for issuing subordinated bonds to consolidate their capital base in line with the Basel-II framework.

BBN/SI/AD-14Sept10-1:11 am (BST) 

No Subscription? You Are Missing Out!

Join the business leaders of Bangladesh who rely on BBN's original reporting and in-depth analysis on business scenario of the country. We send only one daily email. No Spam Guaranteed!

Your Name (optional)

Your Email (Required) *

Subscribe

Please check your email and confirm your subscription