Changes in the process of raising money for Mercantile Bank bonds

The board of directors of Mercantile Bank Limited, a listed bank, has decided to change the issue of perpetual bonds to the tune of Rs 700 crore.

This information has been known from DSE sources.

It is learned that as per the amendment, the bank will withdraw Tk 630 crore out of the permanent bond of Tk 700 crore through private placement and the remaining Tk 70 crore through issue in the public offer.

It is learned that this bond will be issued subject to the approval of Additional Level-1 (AT-1) Capital Regulatory Authority in favor of Basel III of the Bank and in compliance with the guidelines of Bangladesh Bank regarding risk-based capital as required.

Sunbd/NJ