The Board of Directors of IFIC Bank has decided to issue a perpetual bond of Rs.1000 crore. This information has been known from DSE sources.

It is learned that the bank will issue perpetual bonds worth Rs 1,000 crore. Of this, Tk 900 crore will be raised through private placements and the remaining Tk 100 crore will be raised through issues in public proposals.

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.

A special general meeting (AGM) will be held on August 26 to approve the bank's perpetual bond issue with the consent of the shareholders. The record date has been set for July 13.

sunbd/nj