BSEC approved first ever moody’s certified “Runner Automobiles sustainability Bond” where Green Delta Capital acted lead arranger

Pran Agro will raise Tk 2.62 billion by issuing non-convertible bonds to renovate its office and factory, purchase machinery and disburse credits.

The Bangladesh Securities and Exchange Commission (BSEC) on Monday approved the company’s proposal for issuing Non-Convertible Pran Agro Bond-II at a meeting at the BSEC office.

At the meeting, the regulator also approved another proposal of Runner Automobiles that is looking to issue sustainability bonds worth more than Tk 2.67 billion.

The coupon rate of the bonds of Pran Agro will be 8.88 per cent while its offer price will be Tk 1 million per unit. The bonds will be issued to institutions and high net-worth individuals through private placement.

Green Delta Capital is working as trustee while Riverstone Capital is the arranger of the bonds to be issued by Pran Agro.

The regulator imposed the condition of mandatory listing of the bonds on the exchange’s alternative trading board (ATB).

The coupon rate of the sustainability bonds of Runner Automobiles will be fixed at Tk 8.50-Tk 9.

The offer price of the bonds will be Tk 1 million and it will be issued to multinational and local insurance companies, banks, financial institutions and corporate and high net-worth individuals through private placement.

The company will utilize the fund to offer credit to customers and construct solar plants.

DBH Finance and Green Delta Capital are working as trustee and lead arranger of the bonds