The Bangladesh Securities and Exchange Commission (BSEC), the regulator of the capital market, has approved a Tk 600 crore bond of Exim Bank in the banking sector. The approval was given at the 766th commission meeting of BSEC on Sunday.

This information has been given in a press release signed by the Executive Director and Spokesperson of BSEC Mohammad Rezaul Karim.

It is known that the bond is unsecured and contingent-convertible Basel 3 component. Which will be issued through private placement of government financial institutions, insurance companies, mutual funds, listed banks, cooperative banks, trusts and other yogi investors.

It is to be noted that the foundation of Additional Tier-1 capital of the bank will be strengthened by raising funds from various institutions through this bond issue. The face value of each unit of this bond is Rs 10 lakh.

The trustees and arrangers of the bond are Green Delta Insurance Limited and Citibank Capital Resources, respectively.

Sunbd/NJ