News Briefs(8-11-2018)

Consent from BSEC for issuance of SJIBL, UCB bonds

Shahjalal Islami Bank Ltd.: With reference to their earlier news disseminated by CSE on 26 April 2018 regarding Issuance of 2nd Mudaraba Redeemable Non-Convertible Subordinated Bond, the company has further informed that BSEC has accorded consent under the provisions of the Securities and Exchange Commission (Private Placement of Debt Securities) Rules, 2012, for raising of Tier-II Regulatory Capital of Shahjalal Islami Bank Ltd. through issuance of 7 years Redeemable Non-Convertable SJIBL 2nd Mudaraba Subordinated Bond amounting to Tk. 600.00 crore only divided into 6,000 bond of Tk. 1.00 million each at par through private placement. The Consent has been accorded subject to obtaining of No Objection Certificate (NOC) from Bangladesh Bank and compliance with the relevant laws and regulatory requirements and shall also adhere to the conditions imposed by BSEC under Section-2CC of the Securities and Exchange Ordinance, 1969.

United Commercial Bank Ltd.: With reference to their earlier news disseminated by CSE on 30 August 2018 regarding Issuance of UCB 4th Subordinated Bond, the company has further informed that BSEC has given consent under the provisions of the Securities and Exchange Commission (Private Placement of Debt Securities) Rules, 2012, for raising of Tier-II Regulatory Capital of the company of Tk. 800.00 crore through issuance of Unsecured, Non-convertible, Non-listed and Redeemable UCB Fourth Subordinated Bond for 7 (Seven) years tenure with interest of Benchmark rate plus 2.50 per cent p.a. margin with coupon floor rate of 7.00 per cent p.a. and coupon Celling Rate of 10.50 per cent p.a. subject to approval from Bangladesh Bank. — CSE Online